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,
Many different migration scenarios are imaginable for the transition from classic General Ledger Accounting to New General Ledger Accounting, ranging from the straightforward merge of existing ledgers to a totally new conception of accounting, such as the introduction of segment … Read More
Clearing in SAP refers to squaring-off open debit entries with that of open credit entries. Clearing is allowed in GL accounts maintained on an ‘open item’ basis and in all customer/vendor accounts. The clearing can either be manual or automatic. … Read More
Accounts Payable
AR & AP are sub ledgers of GL for managing customer & vendor balances. Most of AR comes from SD modules & AP data from MM module.
Define Acct group with screen layout (Vendors)
Tcode: OBD3
Explanation:
When … Read More
Exchange Rate configuration: R/3 all Forex Rates updated using the TCode: OB08. This is required for passing Forex Transactions, Forex Valuation and Forex Translation.In general to update Forex Rates in TCode: OB08, a background job with a Customized program is … Read More
You can use OBY2 to copy the GL accounts from one company code to the other company code.
2 nd option.
You can go through IMG-Financial acc- G/L A/c- Master data- G/L A/c creation with reference and create G/L accounts … Read More
SAP recommends that you used EC01 to copy an existing sap company code to a new one. This has the advantage that you also copy the existing company code-specific parameters. If necessary, you can then change certain data in the … Read More
Invoice Generation
Invoices will be generated at the Smelters and stock points. The accounting entries for the sale of goods dispatch will flow from the Sales invoice generated in SAP Sales and Distribution module.
The following entries shall be passed… Read More