What is FICO?


SAP FINANCE & CONTROLS:   A BRIEF INTRODUCTION & OUTLINE

In today’s world of innovation through Information Technology, SAP is truly a dynamic package by which
one can integrate, diversify, and streamline their work-processes with multi-dimensional compatibility.
SAP – “Systems, Applications, and Products in Data Processing” – was founded in 1972 with its
headquarters in Walldorf, Germany.
For those who are in the Finance/Accounting Profession who wish to delve into a creative and
interactive scenario by which they can apply their hands-on experience & expertise to another level of
fantastic intellectual stimulation, SAP FI/CO Implementation & Configuration is truly the ultimate.  Their
expertise will render them to very swiftly master its technical configuration – for the concepts are all
part of every Finance/Accounting Professional’s innate thought-process – and - the SAP modules follow
a thorough schematic pattern by which all functionalities & technicalities are logically laid-out.
SAP Financial Accounting (FI) is an important core module where in live-time, the financial processing
transactions are all captured to provide the basis via which data is drawn for external reporting.  This
SAP FI Module is integrated with many parallel modules that enable a company to unify processes that
may have needed the utilization of many software packages.  
Other Modules of SAP that commonly find a role of integration with FI are (but not limited to) Material
Management (MM), Sales & Distribution (SD), Human Resources (HR), Product Planning (PP), Controlling
(CO), etc.   Amongst these CO – Controlling is another major focus for those coming from the
Finance/Accounting/Auditing/Budgeting and Financial Reporting/Analysis Backgrounds/Professions.
SAP FI:  There are many sub-modules that streamline and specialize in each aspect of the Financial
Accounting Processes:
AA – Asset Accounting
AP – Accounts Payable
AR – Accounts Receivable
BL – Bank Accounting
FM – Funds Management
GL – General Ledger Accounting
LC – Legal Consolidations
SL – Special Purpose Ledger
TM – Travel Management
Out of the above, FI-AR, FI-AP, & FI-AA are the three sub-modules that send simultaneous
postings to FI-GL.

Comments

Post a Comment

Popular posts from this blog

Batch input session SM35

Image
Batch in put session is the same for all the modules and processes. Its independent and it can be use for all the processes. In SM35, we can select the session for recurring entry or for any other scheduled process. We can manage sessions, lock it, unlock it, see logs etc. For running batch input session it gives us 3 options. Foreground, background and errors only. Foreground means system will roll all the transaction on the screen and we can see it. Background means system will process all the transaction in background. Errors only means the system will process in background but will show errors. For ease we select extended log and expert mode while starting a batch input session. Now once we run batch input session we need to know results of it right? Here it is how we get results of batch input session in SAP FICO.  Batch job overview
Read more

Manual Clearing Vendor open line items F-44

Image
In SAP FICO, F-53 kept the line items open even if it got paid. How to clear them? Through F-44. Here give the vendor account number whom we want to clear line items. Process open items will redirect to the new screen. Select which line items to be cleared, simulate and save. It will clear the line items and gives a document number. Upon displaying document it shows a document with no line items but just header data. It is an important certification question that only clearing document display have just header data and no line items. All the financial accounting entries saved in tables BKPF and BSEG for header data and line item data respectively. So for most of the documents there is a link between these two tables, but for clearing document there is an entry in BKPF only.
Read more

iDoc types and applicable message types

Outbound processing: BENREP     BENEFIT1 CARNOT    DELVRY01 CREADV     PEXR2001, PEXR2002 DEBADV     PEXR2001, PEXR2002 DELFOR     DELFOR01 DELINS     DELFOR01 (FDS and JIT) DELJIT     DELFOR01 DESADV     DELVRY01, DELVRY02, DELVRY03 (previously: DESADV01) EXPINV     EXPINV01, EXPINV02, EXPINV03 GSVERF     GSVERF01 IFTMIN     SHPMNT03 IMPINV     IMPINV01 INVOIC     INVOIC01 ORDCHG     ORDERS01, ORDERS02, ORDERS03, ORDERS04, ORDERS05 ORDERS     ORDERS01, ORDERS02, ORDERS03, ORDERS04, ORDERS05 ORDRSP     ORDERS01, ORDERS02, ORDERS03, ORDERS04, ORDERS05 PAYEXT     PEXR2001, PEXR2002 PRICAT   ...
Read more