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What is SAP FICO Module?
SAP FICO module refers to the Finance(FI) and Controlling(CO) modules of SAP ERP system. FI and CO are the core modules of SAP. They are tightly integrated with Sales and Distribution Module (SD) and Materials management (MM) module.
SAP Financial Accounting (FI) is the core module where all the financial processing transactions are captured. This is the module that is used to create statutory Financials Statements for external reporting purposes.
Functions in SAP FI can primarily be divided into General Ledger Accounting (G/L), Accounts Receivableand Accounts Payable(AR/AP) processing, and Fixed Asset Accounting(AA). We will pick up details of SAP FI module in another blog post.
SAP Controlling module helps provide operational information to the management of a company to support business analysis and decision-making. CO represents the internal accounting viewpoint of an organisation. It provide information to managers to help manage costs and operations of the organization.
SAP refers External Accounting as “Financial Accounting”(SAP-FI) while Internal Accounting is referred as Managerial Accounting(SAP-CO).
Prerequisite
1.Knowledge of Accounting/Finance
FI/CO MODULE.
FI – FINANCE CO - CONTROLLING
GL – General Ledger CEA – Cost Element Accounting
AP – Accounts Payable CCA – Cost Center Accounting
AR – Accounts Receivables IO - Internal Order Accounting
AA – Asset Accounting PCA – Profit Center Accounting
BA – Bank Accounting PC - Product Costing
CO-PA – Controlling Profitability Analysis
FI - FINANCE
GENERAL LEDGER ACCOUNTING.
Organization Structure
Company
Company Codes
Business area , Profit Centers
Financial Accounting Global Settings
Fiscal year Variant
Field Status Variant
Tolerance Groups
Document types & Number Ranges
Master Data
GL Planning (New)
Introduction to New GL Accounting (New)
Parallel Currencies
Foreign Currencies
Interest Calculation
Business Process (Easy Access Screen)
Creation of General Ledger master
Document postings, changes and reversals
Account balance verification
Templates like Sample , Reference Documents
ACCOUNTS PAYABLE.
Master data
Outgoing Payment
Manual Payments
Automatic Payments
Payment Methods
Spl GL transactions
Advances or Down Payments
Notes items
Payment Terms & Cash discounts
Business Process (Easy Access)
Creation of Vendor Master records
Purchase cycle
Invoice Postings
Advance payments
Payments
Forex liability valuation
ACCOUNT RECEIVABLE.
Master data
Incoming Payment
Manual Receipts
Cheque Deposits
Spl GL transactions
Customer (Advances) Down Payments
Notes items
Bill of Exchanges
Payment Terms & Cash discounts
Dunning Process
Business Process (Easy Access)
Creation of Customer Master records
Sales cycle
Invoice Postings
Advance receipts
Receipts
Forex liability valuation
ASSET ACCOUNTING:
Organization structure
Chart of Deprecation
Account Determination
Screen Layout Rules
Number Ranges
Asset Classes
Integration with General Ledger
Depreciation keys
Asset Under Construction from internal orders
Business Process (Easy Access)
Creation of Asset Masters
Acquisition of Assets
Sales of Assets
Transfer of Assets
a.Inter company
b.Intra company
Depreciation postings
Settlement of AUC
BANK ACCOUNTING
House Banks
oHouse Banks
oBanks Id's
oCheck lots
Cheque Deposits
Manual & Automatic bank reconciliation
Cash Journal
CO - CONTROLLING
GENERAL CONTROLLING
Organization structure in Controlling
Controlling Area
COST ELEMENT ACCOUNTING
Master data – Primary & Secondary Cost Elements
Accrual Calculation
COST CENTER ACCOUNTING
Master data – Cost Centers, Activity Type & Statistical Key figure
Cost Center Planning
Actual Postings
Period End closing activities
INTERNAL ORDER ACCOUNTING
Master data – Internal Order
Internal Order Planning
Budget & Availability Control
Period End closing activities
PRODUCT COSTING
Product Cost Planning
Costing Sheet
Cost Component Structure
Costing Variants
Cost Object Controlling
Product cost by Period
Product cost by Order
Product cost by Sales Order
Period End closing activities
Overhead calculation
WIP Calculation
Variance Calculation
Settlement
CO-PA (Controlling Profitability Analysis)
Structures
Master Data
Flow of Actual Values
Forms & Reports
Profit Center Accounting
Basic Settings
Master Data
Planning
Actual Posting
INTEGRATION
Materials Management (MM) with Finance Integration
Valuation Class
Price Indicator
Account Determination
Sales & Distribution (SD) with FI Integration.
Sales pricing procedure
Condition Techniques
Account Determination
INFORMATION SYSTEM :
1.Balance Sheet and Profit Loss Account.
2.Chart of Accounts.
3.Trail Balance
4.General Ledger.
5.User Manual.
6.Vendor List.
7.Vendor Wise Purchases.
8.AGE Wise Analysis of Vendors.
9.Down Payment Report of Vendors.
10.Vendor Ledger.
11.Due Date Forecast of Vendors.
12.Customer List.
13.Customer Wise Sales.
14.AGE Wise Analysis of Customers.
15.Down Report of Customers.
16.Bill Of Exchange Bank Wise and Party Wise.
17.Department Wise /Telephone Wise Cost Report Actual Cost and Variance.
18.Vehicle Wise/ Telephone Wise Cost Report Actual Cost Variance.
19.Department Wise and Machine Wise Assets Details – Gross Block, Accumulated Depreciation and Net Block.
20.Depreciation Forecast.
21.Depreciation Posting Period Wise.
22.Schedule V Assets Report.
23.Assets Addition Report, Sale Report, Profit/Loss on Sale of Assets Report, Assets Transfer Reports.
24.Audit Information System.
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