SAP FICO stands for (Financial Accounting and Controlling), SAP Financial Accounting and Controlling module can be integrated with all other SAP modules include Material Management, Sales and distribution, Production planning, Human resource Management, Material Management etc.
The SAP FI Module has the capability of meeting all the accounting and financial needs of an organization. It is within this module that Financial Managers as well as other Managers within your business can review the financial position of the company in real time as compared to legacy systems which often times require overnight updates before financial statements can be generated and run for management review.
The real-time functionality of the SAP modules allows for better decision making and strategic planning. The FI (Financial Accounting) Module integrates with other SAP Modules such as MM (Materials Management), PP (Production Planning), SD (Sales and Distribution), PM (Plant Maintenance), and PS (Project Systems).
The FI Module also integrates with HR (Human Resources) which includes PM (Personnel Management), Time Management, Travel Management, Payroll. Document transactions occurring within the specific modules generate account postings via account determination tables.
SAP FICO Financial Accounting and Controlling Module is a combination of two ERP modules, i.e., Finance Accounting (FI) and Controlling (CO) and this FICO module is used in financial fields to generate analytical reports.
This Tutorial for beginners explains what SAP FICO. This Online Tutorial gives brief understanding of SAP Financial Accounting and Controlling module concepts and with examples,
Foreign currency valuation is to be done for preparing the financial statements at a key date. Documents posted in foreign currencies have to be converted to company code currency for preparing the company financial statements. Your company financial statement can … Read More
In order to view all of the different types of asset activity for an asset, or a large number of assets (by company code or class), the asset history sheet allows you to uniquely map any particular transaction … Read More
IMG ⇒Controlling ⇒ General Controlling ⇒ Organization ⇒ Maintain Number Ranges for Controlling Document
T-Code : KANK
The following screen appears,
Assign “Company Code” in Co Area … Read More
You must always enter similar transactions and only different in one or two field of date,invoice number, amount, currency or description. You can create account assignment templates to save input time and avoid input errors.
Data from account assignment template … Read More
SAP transaction MB5L (List of Stock Values: Balances) is classified in the Materials Management module under application component Inventory Management and runs Application development R/3 inventory management program RM07MBST upon execution.
Procedure … Read More
While posting SAP customer invoice (FB70) why system asks for G/L account?
As per double entry book keeping rule:
customer is debited
Customer reconciliation a/c is credited
Why one more G/L account on top of Recon a/c, which is posted … Read More
Setting Profile option
(This setting is only for the first time you are using one time / small dollar vendor)
A. Go to FB60
B. Go to Editing option
– Select “Documents currency”
– … Read More