SAP FICO

SAP FICO

Overview:
SAP FICO Module is SAP Financial Accounting & Controlling has one of important modules of SAP ERP and it is used to store the financial data (Balance Sheets, Profit & Loss Accounts, etc) of an organization. SAP FI helps to analyze the financial conditions of a company in the market. FICO is majorly used to evaluate and monitor the financial condition of a business. The major benefit of SAP FICO is it generates the accounting data into an integrated form to be used excellently in managing profit loss statements and balance sheets etc.

Training Objectives of FICO:
SAP FICO is the Financial Accounting and Controlling Module of the SAP software that helps you conduct all the financial transactions, accounting and reporting activities in a smooth fashion. Its easy configuration tools, compatibility with other accounting software and user friendly features, make SAP FICO very popular in organizations across industry domains. SAP FICO enables you to work efficiently with highly accurate data and fast processes to reach your organizational goals. With the help of SAP FICO, Financial Management systems are becoming more organized with better record management, improved finance reporting and ease in the decision-making process.

Target Students / Prerequisites
Knowledge of Finance, Accounting
Minimum 2 years of experience is required
Profession Qualification CA / ICWAI / MBA PGDM in Finance / post graduate in Finance & Accounting with relevant experience
Good Communication Skills


Course Content
Introduction
ERP Concepts
Role of SAP Consultant
Why SAP is in demand?
Finance Overview: Transaction, Accounts and Accounting.

General Settings
Define Company, Company Code, Credit Control Area, Business Area, Chart of Accounts and Fiscal Year. Assign Company Code to Company, Chart of Accounts and Fiscal Year, Create Tax Procedure and Attach to the Country

Posting Period
Define Posting Period Variant
Assign Posting Period Variant to company code
Define Open and Close Posting periods

Document
Define Document Types and Number Ranges

Account Group and Retained Earning Account
Define Account Group and Retained Earning Account

Field Status Variant
Maintain Field Status Variant
Assign Field Status Variant to Company Code

Tolerance Group
Tolerance Group for GL Accounts
Tolerance Group for Employees
Assigning Users to Tolerance Groups

Other Basic Steps
Enable Fiscal Year Default
Enable Default Value Date
Check Company Code settings in Global parameters

Other topics in GL
GL Master Creation
Journal Entry Posting
Blocking of an GL Account
Unblocking of an GL Account
Changing of GL Master
Display Changes/What Changes/how it was done
Parking of an account
Releasing the parking document by changing the amount.
Releasing the parking document by deleting the document
Difference between Park and Hold documents
How to see an Account Balance

Reference Documents
Sample document
Account Assignment Model
Recurring Entries

Reversal of Document
Normal Reversal/Individual Reversal
Mass Reversal
Reversal of the Reversal

Open Item Management
Full Clearing
Partial Clearing
Residual Clearing

Accounts Receivable (AR)
Accounts Receivable(AR)

Settings in AR
Account Group Creation
Field Status
No. Range Group and No. Ranges
Assigning No. Range Group to Account Group
Tolerance Group for Customers
GL Accounts and Customer Master Creations
Document Types and No. Ranges
Posting Keys
Invoice Posting
Incoming Payment
Clearing Open Items

Down Payment
Down Payment
Establishment between Recon a/c and Alternative Recon a/c
Down Payment in Short-Cut Method
Customer Credit Memo
Correspondence

Accounts Payable (AP)
Accounts Payable (AP)

Settings in AP
Account Group Creation
Field Status
No. Range Group and No. Ranges
Assigning No. Range Group to Account Group
Tolerance Group for Vendors
GL Accounts and Vendor Master Creations(Bank Accounts)
Document Types and No. Ranges
Posting Keys
Invoice Posting
Outgoing Payment
Clearing Open Items

Down Payment
Down Payment
Establishment between Recon a/c and Alternative Recon a/c
Down Payment in Short-Cut Method
Vendor Credit Memo
Correspondence

Special and Important Topics
Sales Tax
Clearing Outstanding between Customer and Vendor
Cash Discount
Integration between FI and MM
Integration between FI and SD
Financial Statement Version

Asset Accounting (AA)
Chart of Depreciation
Account Determination
Screen Layout
Asset Master Creation
Asset Class
Depreciation Keys etc.
Acquisition of Asset
Asset Sale
Scrapping of an Asset
Transfer of Asset

Reports and Management Information System
GL Reports
AR Reports
AP Reports
AA Reports
MIS
CONTROLLING
Controlling Basic Settings
Defining Controlling Area
Assigning Controlling Area to Company Codes
Defining Number Ranges for Controlling Documents

Cost Element Accounting
Creating Cost Element Groups
Manual Creation of Primary and Secondary Cost Elements
Automatic Creation of Primary and Secondary Cost Elements

Cost Center Accounting
Creating Cost Center Hierarchy Key
Creating Cost Center Groups
Creating Cost Centers
Manual Repost Line Items
Automatic Reposting Line Items
Periodic Reposting
Creating Distribution Cycle

Internal Orders
Creating Order Types
Creating Number Ranges
Creating Internal Orders

Profit Center Accounting
Creating Profit Center Hierarchy
Creating Profit Center Groups
Creating Profit Centers
Creating Dummy Profit Center
Automatic Assignment of Balance Sheet A/c and P&L A/c to profit centers

Overview of Product Costing
Overview of Product Costing

Overview of Profitability Analysis
Overview of Profitability Analysis

About the Trainer

10 + Years of IT experience, provided training for over 1000+ professionals online Real-time IT experience which enables to provide dedicated quality training. Teaching is his passion vast experience in providing online training around the globe with good communication skills.