What is SAP FICO?
SAP FICO (Financial Accounting and Controlling) is a module of the SAP ERP system that helps businesses manage their financial operations. It is designed to handle accounting and financial transactions, including general ledger accounting, accounts payable, accounts receivable, and financial reporting.
Benefits of SAP FICO
Improved data accuracy:– SAP FICO streamlines financial processes, reducing the risk of manual errors and improving data accuracy.
- Better decision-making:– With real-time access to financial information, business leaders can make informed decisions based on accurate and up-to-date data.
- Increased efficiency:– SAP FICO automates financial processes, reducing manual effort and increasing efficiency.
- Better financial visibility:– SAP FICO provides a centralized view of all financial data, enabling business leaders to gain insights into their financial performance and make data-driven decisions.
- Enhanced reporting capabilities:– SAP FICO provides a range of financial reporting options, allowing businesses to meet their reporting requirements and gain insights into their financial performance.
Key Features of SAP FICO
General Ledger Accounting:– This feature provides a centralized view of all financial transactions, allowing businesses to keep track of their financial performance.
Accounts Payable:– This feature automates the process of paying suppliers and vendors, reducing manual effort and increasing efficiency.
Accounts Receivable:– This feature automates the process of collecting payments from customers, reducing manual effort and increasing efficiency.
Financial Reporting:– This feature provides a range of financial reporting options, including balance sheets, income statements, and cash flow statements, allowing businesses to meet their reporting requirements and gain insights into their financial performance.
Cost Accounting:– This feature provides cost information for products and services, enabling businesses to make informed decisions about pricing and product costs.
SAP FICO is an essential tool for businesses looking to improve their financial operations. With its ability to streamline financial processes, reduce manual errors, and provide real-time access to financial information, SAP FICO helps businesses make informed decisions and improve their financial performance. Whether you're a small business or a large enterprise, SAP FICO can help you achieve your financial goals and improve your bottom line.
Course Eligibility Criteria
- Good to have basic understanding of finance and financial terminology
- Controlling Organization structure
- Enterprise structure configuration
- Maintain Controlling Area
- Assign company code to controlling area
- General controlling
- Cost element accounting
- Integration with FI
- Cost elements Master data, posting and reporting
- Cost center accounting
- Enterprise structure
- Master data
- Cost center planning and Budgeting
- Posting to cost center and reports overview
- Internal Order
- Configuration of Internal Orders and its types
- Master data creation
- Real Orders and
- Statistical orders
- Planning and status profile
- Internal order budgeting
- Product cost controlling
- Basic settings for Material costing
- Costing sheet for OH calculation
- Material Cost Estimate with Quantity Structure
- Material Cost Estimate Without Quantity Structure
- Ad Hoc Cost Estimate
- Cost Object controlling
- Product Cost by Period
- Basic Settings for Product Cost by Period
- Product Cost Collectors
- Simultaneous Costing
- Period-End Closing
- Product Cost by Order
- Basic Settings for Product Cost by Order
- Manufacturing Orders
- Period-End Closing
- Product Cost by Sales Order
- Basic Settings for Product Cost by Sales Order
- Control of Sales-Order-Related Production/Product Cost by Sales Order
- Preliminary Costing and Order BOM Costing
- Period-End Closing
- Material Ledger
- Basic configuration settings
- Actual Costing/Material Ledger
- Month end activities
- Profitability analysis (CO-PA)
- Organization structure
- Basic settings
- Characteristic Values
- Maintain Value Fields
- Differences between Accounting based COPA and Costing Based COPA
- Flows of Actual Values
- COPA Planning
- Basic settings and planning
- COPA Valuation
- Posting from Different modules and reporting
- Develop a report through Report painter
- S4 HANA overview and its versions
- Fiori Apps
- Overview and advantages to business
- Implementation methodologies overview in ERP and S4 HANA
- Cutover activities overview
- Data upload tools overview
- Master data and
- Transactional data
- Tables overview and its revolution
- Sap Query and Table join
- Screen variant and transaction variant
- Functional module, BAPI overview and its importance
- Functional specification overview
- Supporting tools overview
- SLA overview
- Month end and Year end activities in a project with respect to FICO/MM/SD
SAP FICO Certified Consultant