Sap fico full notes

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Sap fico full notes

It is used to store the financial data of an organization. SAP FI helps to analyze the financial conditions of a company in the market.

It supports coordination, monitoring, and optimization of all the processes in an organization. SAP CO includes managing and configuring master data that covers cost and profit centers, internal orders, and other cost elements and functional areas. Prerequisites It is an elementary tutorial and you can easily understand the concepts explained here with a basic knowledge of how a business deals its Financials.

However, it will help if you have some prior exposure to accounting and how to deal with financial data. All the content and graphics published in this e-book are the property of Tutorials Point I Pvt. The user of this e-book is prohibited to reuse, retain, copy, distribute or republish any contents or a part of contents of this e-book in any manner without written consent of the publisher. We strive to update the contents of our website and tutorials as timely and as precisely as possible, however, the contents may contain inaccuracies or errors.

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sap fico full notes

Table of Contents About the Tutorial SAP FI module enables you to manage financial accounting data within an international framework of multiple companies, currencies, and languages. It acts as the primary record to maintain all accounting details. Common general ledger entries are customer transactions, purchases from vendors, and internal company transactions.

sap fico full notes

In other words, AP includes all the vendor transactions and AR includes all the customer transactions.

Finance Accounting Asset Accounting Asset Accounting deals with all the fixed asset of the company and provides all the transaction details about fixed assets. Example: When a company purchases an item that can be considered as an asset, the details will be passed to Asset accounting module from the SAP MM module.

Finance Accounting Bank Accounting It deals with all the transactions done through bank. It includes all the incoming and outgoing transactions performed, balance management and bank transaction master data.

You can create and process any type of bank transactions using the Bank accounting component. Finance Accounting Travel Management This module is used to manage all the travel expenses of a company. It involves all the travels request, their planning and expenses involved in all the requested trips. It helps an organization to manage travel expenses in an efficient manner, as it provides integration with all the other modules of SAP.

Finance Accounting Fund Management This module is used to manage funds in a company. It involves all the transactions for fund receiving, fund expenditure, and future expenses. It helps a company to create budget forecasting and to use the funds in a proper way. Finance Accounting Legal Consolidation It helps an organization to treat its multiple units as a single company, hence it enables to view all the details as a single financial statement for all the companies under that group.

An organization can get a clear idea of its financial conditions as a single entity. A company is defined as the smallest unit for which financial statements can be created in accordance with commercial legal regulations. In SAP FI, a company can comprise of multiple codes, however it acts as a single unit for which financial statements are available. All the company codes must use the same chart of accounts list and fiscal year, however each code can have a different local currency.Now a days sap fico is highly learning course.

Sap Fi Module Notes

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Its training is very much sought for the reasons are pretty obvious, since it shelters almost the whole of the bookkeeping and management aspect of the business, most companies wants either that their current employees shall be trained it, or the future staff they recruit should be equipped with SAP FICO online training. And there is a small fraction of people that acquire SAP FICO training through complete reliance over diverse study resources, like summaries, notes, tapes etc.

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Thanks for sharing the post! Thanks for sharing this Informative content. Well explained. SAP MM. SAP SD.Why and When to use Business Area. Let me give some examples to elucidiate A company say, ABC is a huge company and has a variety of businesses under it.

sap fico full notes

Let us say. There are 2 options here now.

sap fico full notes

Either create different company codes for the 3 business operations which would be the. Create each of these business lines into business areas the better option. The advantages of using the second option is:.

You can use these business areas if other company codes require the same areas. The configuration is simpler as in case of company code, you would require to go through the. In the business area option, you just need to attach it to the company code and the rest of the details in Business area is attached by default from the company code you are using.

The above was an example when the company wanted to separate entries according to the lines. Whatever were your doubts, let me clarify. If your doubt was the first one, then, in that case, the financial statements will not be available.

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There are reasons for the same. The data in FI is then passed to CO through primary cost elements. The costs are then apportioned to the various cost centers which may or may not be a part of your business areas or may be independent cost centers. Now, with this data, financial statements of the business area are drawn up. For transactions not part of business area, they are transferred to independent cost centers e. Meaning and Creation of Company codes.

Which is the best method to create a company code. What is the process involved in copying from a country template. For configuring SAP, generally three steps are required.

In same organisation i. If your want seperate setting in your own company code, that time its better to configure by. In above that is your choice and need for reqirement. Otherwise you can upload certain data by creating company code.By Sai Anand. Run Server. Define Company………………………………………………………………………. Assign Company Code to Company……………………………………………………. Define Business Areas………………………………………………………………….

Define Financial Management Areas……………………………………………………. Define Chart Of Accounts List……………………………………………………………. Define Retain Earnings Group…………………………………………………………. Posting Periods. B Assign Variants to Company Code…………………………………………. C Open and Close Posting Periods……………………………………………. Define Document Type and Analization………………………………………………. Define Tolerance and Groups. Define Company. Tr Code OX Define Company Code.

Path: - Spro Img Enterprises Structure. Definition Financial Accounting. Go to New Entries. Give Company Code. Give Company Full Address.To browse Academia. Skip to main content. Log In Sign Up. Sap fico fi notes. Shalini Asija. Introduction 3 Enterprise Structure 11 1.

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Chart of Accounts 15 2. Accounts groups customization 19 3. Negative Postings 41 2. Creation of GL Masters 43 3. Reversal of Reversed document 77 2. Mass Reversal 78 3. Balance Interest calculation 87 4. Link between sundry creditors and Advance to vendors 2.

Purchase Invoice Posting 3. Term of Payments-Maximum Cash discount 4. Automatic payment Program APP 5. Check printing 6. Sales Invoice Posting 2. Incoming payment 3. Link between sundry debtors and advance from customers 4. Chart of Depreciation 2.

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Asset Classes 3. Chart of Accounts List 2. Data Takeover 4. House Bank 2. Check Lots 3.

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Maintain Calendar 2. Withholding tax codes 3. Create Remittance Challan 4.The objective is to record all financial transactions that are posted by an entity and produce financial statements that are accurate at the end of the trading period. SAP FI is made up of sub modules. The sub-modules that are often used are accounts receivables, accounts payables, asset accounting, general ledger Accounting and bank accounting.

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All the sub modules are interlinked and integrate in real time. A trial balance can be extracted at an time and it will always balance because all the sub modules are connected. General ledger accounting All general ledger accounts that are used for reporting are managed through general ledger accounting.

In SAP a set of all general ledger accounts used by a company or a group of companies is called a chart of accounts. These are the accounts that will be used for the preparation of financial statements. Most of the transactions are recorded in sub modules and they are reconciled with the general ledgers in real time.

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Transactions that can be done in direct in general ledger Accounting include journal vouchers which are posted to adjust or correct transactions. Reversals can also be done from general ledger accounting. Balances in general ledger accounts can be displayed and trial balances extracted from the system. Accounts receivables Accounts receivables is a sub module that captures all transactions with customers and manages customer accounts.

Separate customer accounts will be maintained and when transactions are posted in customer accounts, reconciliation accounts in general ledger are updated with the figures in real time. Transactions in accounts receivables include invoice posting, credit memo posting, down payments, invoice payment, dunning and executing customer reports.

Accounts payables Accounts payables is a sub module that captures all transactions with vendors and manages vendor accounts. Separate vendor accounts are maintained and when transactions are posted in customer accounts, reconciliation accounts in general ledger are updated with the figures in real time.

Transactions in accounts payables include invoice posting, credit memo posting, down payments, invoice payment, automatic payment program and executing vendor reports. Asset accounting Asset accounting manages all transactions realted to assets for an entity. When transactions are posted in asset accounts ,reconciliation accounts in general ledger are updated in real time. Transactions in asset accounting include asset acquisition, asset retirement, asset sale, asset transfer, asset revaluation and asset depreciation.

Bank accounting Bank accounting captures all transactions with the banks. Bank reconciliation is done to reconcile all transactions recorded on bank statements comparing them to transactions in the system. All SAP FI sub-modules are integrated and transactions are updated in real time which means accurate financial statements can be extracted from the system at any time. Home Testing. Must Learn! Big Data. Live Projects.Fi nance. Company Code : The smallest organizational unit of Financial Accounting for which a complete self-contained set of accounts can be drawn up for purposes of external reporting.

Business Area: An organizational unit of financial accounting that represents a separate area of operations or responsibilities within an organization and to which value changes recorded in Financial Accounting can be allocated. Enterprise structure: A portrayal of an enterprise's hierarchy. Logical enterprise structure, including the organizational units required to manage the SAP System such as plant or cost center. Social enterprise structure, description of the way in which an enterprise is organized, in divisions or user departments.

The HR application component portrays the social structure of an enterprise. The fiscal year variant specifies the number of periods and special periods in a fiscal year and how the SAP System is to determine the assigned posting periods. Fiscal Year: A period of usually 12 months, for which the company produces financial statements and takes inventory. This positioning can be based on specific legal requirements for creating financial statements.

It can also be a self-defined order. Account group: An object that attributes that determine the creation of master records. The account group determines: The data that is relevant for the master record A number range from which numbers are selected for the master records. Posting Key : A two-digit numerical key that determines the way line items are posted.

This key determines several factors including the: Account type, Type of posting debit or credit ,Layout of entry screens. Open item management: A stipulation that the items in an account must be used to clear other line items in the same account. Items must balance out to zero before they can be cleared.

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The account balance is therefore always equal to the sum of the open items. Clearing: A procedure by which the open items belonging to one or more accounts are indicated as cleared paid. They include:. House Bank: A business partner that represents a bank through which you can process your own internal transactions. Document type: A key that distinguishes the business transactions to be posted. The document type determines where the document is stored as well as the account types to be posted.

Account type: A key that specifies the accounting area to which an account belongs. Examples of account types are:. Dunning procedure: A pre-defined procedure specifying how customers or vendors are dunned.


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