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SAP FICO (Finance and Controlling)
The SAP FICO stands for Finance and Cost controlling module in SAP ERP tool. The SAP FICO tool is very strong and designed to cater all the business process happening around the industries. SAP FICO is one of the widely implemented module available in SAP.
SAP FICO is a critical module of SAP ERP Business Suite. Functionally, both FI and CO modules store the financial related transactions/information. FI and CO modules are firmly integrated with other ERP modules such as Sales and Distribution (SD), Material Management, Human Resources Management, and so on.
Uplatz.com offers comprehensive SAP FICO training with focus on imparting necessary skills for becoming a successful FICO consultant or power user. This course will also help you switch to a high-paying job. SAP FICO transactions and exercises are intended for SAP beginners and SAP experts, with the goal that they can execute and configure the SAP FI/CO ERP modules. Our hands-on instructor-led SAP FICO Training will prepare you for the SAP job market and as well as equipped you with all the necessary training/assistance that is needed or required for you to pass the SAP FI/CO certification examination.
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Course Objective
The SAP Finance and cost controlling module online certification course offered by SAP is intended for participants to understand, identify and analyse the business requirements from recording to reporting.
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Course Description
SAP FICO course is designed to cover entire configuration and end-user process based on SAP FICO module.
SAP FICO is a module type used for internal and external reporting. SAP FICO is made up of sub-modules which is often used for account receivables, account payables, asset accounting, ledger accounting and bank accounting.
All the sub-modules are integrated in real-time.
The SAP Finance and Cost Controlling module online certification course will make sure the participants will get equipped in:
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Configure and implement SAP FICO module.
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Gathering resource for business record to process cycle.
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SAP Business analysis to accelerate finance related activities
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SAP users
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Accountants
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Sales Manager
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Manager
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SAP FICO (Finance and Controlling)
• Introduction to ERP
• Introduction to SAP
Part 1: Enterprise Structure:
Definition of company
Definition of company code
Assignment of company to company code
Definition of business area
Part 2: Financial Accounting Basic Settings
Definition of fiscal year variant
Assignment of fiscal year variant to company code
Definition of posting period variant
Assignment of posting period variant to company code
Open and close posting period
Maintenance of field status variants
Assignment of field status variant to company code
Creation of chart of Accounts
Defining Accounts Groups
Defining Retained Earnings Account
Definition of tolerance groups for GL accounts
Definition of tolerance groups for employees
Assignment of tolerance groups to users
Taxes on Sales & Purchases (input & output)
Defining document type & number ranges
PART 3: General Ledger Accounting
Creation of General Ledger Master (with and without reference)
Display/Change/Block/Unblock of general ledger master
Document Entry posting normal postings and posting with reference
Display and change of documents
Display of GL balances
Display GL account line items
Parked documents
Hold documents
Creation of Sample Document postings with sample documents
Reversal of individual documents, mass reversal and reversal of reversed document
Month End Provisions –
Open item Management – Full clearing, Partial Clearing and Residual Clearing
Accrual and Deferral documents
Interest calculations on term loans
PART 4: Accounts Payable
Creation of vendor account groups
Creation of number ranges for vendor master records
Assignment of number ranges to vendor account groups
Creation of tolerance group for vendors
Creation of vendor master (display/change/block/unblock of vendor master)
Posting of vendor transactions (invoice posting, payment posting, credit memo)
Display Vendor balances and G/L Balances
Configuration Settings for advance payments to Vendors (down payment)
Clearing of down payment against invoices (special GL transactions)
Posting of partial Payment & Residual Payment
Creation of payment terms,
Creation of house banks and account ids.
Creation of check lots and Creation of void reasons
Maintenance of check register
Display check register
Cancellation of unissued checks
Cancellation of issued checks
posting of purchase returns.
BRS
Configuration of automatic payment program
Defining correspondence & party statement of accounts
PART 5: Accounts receivable
Creation of customer account groups
Creation of number ranges for customer master records
Assignment of number ranges for customer account groups
Creation of tolerance group for customers
Creation of customer master (display/change/block/unblock of vender master)
Posting of customer transactions (sales invoice posting, payment posting, debit memo)
Display customer balances and G/L Balances
Configuration Settings for advance payment from customers (down payment)
Configuration settings for terms of payment to customers
Configuration of settings for dunning
Generating the dunning letters
Defining correspondence and party statement of accounts
Bills of exchange
Posting of sales returns
When the vendor and customer both are same
A. without terms of payment
B. with common terms of payment.
PART 6: Asset Accounting:
Copy reference chart of depreciation
Assignment of chart of depreciation to company code
Creation of 0% tax codes for sales and purchases
Defining account determination
Definition of screen lay out rules
Definition of number ranges for asset master
Creation of asset classes
Integration with General Ledger & Posting rules
Defining Depreciation key
Definition of multilevel methods
Definition of period control methods
Creation of main asset master records
Creation of sub asset master records
posting the transactions for Acquisition of fixed assets
Depreciation run and Asset explorer
Sale of fixed assets – with customer and without customer
Transfer of assets
Impairment of assets
Scrapping of assets,
Line item Settlement of assets under construction of capital work in progress
PART 7: CONTROLLING
Basic settings for controlling
Defining Controlling Area
Defining Number ranges for Controlling Area
Maintain Planning Versions
Cost element accounting:
Creation of primary cost elements from financial accounting area
Creation of primary cost elements from controlling area
Display of cost element master records
Change cost element master records
Primary cost element categories
Secondary cost element categories
Cost Center Accounting:
Defining Cost Center Standard Hierarchy
Creation of Cost Centers and cost center groups
Display cost center master records
Change cost center master records
Creation of cost center groups
Posting to cost centers
Reposting of co line items
Repost of Costs
Planning for cost centers
Cost center reports
Internal orders
Define field status group for statistical orders
Creation of Primary cost element
Creation of internal order master records for statistical orders
Display internal order master records
Change internal order master records
Postings to internal orders
Planning for internal orders
Report of Variance analysis for internal orders
Real orders
Creation of real internal orders
Posting of business transaction to real orders
Definition of allocation structures
Definition of settlement profiles
Definition of planning profiles
Define number ranges for Settlement documents of real internal orders
Define number ranges for controlling documents.
Budgeting and availability control
Maintain number ranges for budgeting
Define tolerances for availability control
Specification of exempt cost elements from availability control
Maintenance of budget manager
Profit Center Accounting:
Basic Settings for Profit Center Accounting
Creation of Dummy Profit Centers
Maintenance of control parameters for actual postings
Maintaining planning versions for profit centers
Maintaining the number ranges for profit center documents
Creation of profit center master records
Display of profit center master records
Changing the profit center master records
Assign profit center to cost center for expenditure posting
Creation of revenue cost elements
Automatic Assignment of Revenue elements for Profit Centers
Assignment of profit centers in cost center master records
Creation of account groups in profit center accounting for planning
Planning for profit and loss account items
Posting of transactions into profit centres
Generating the variance reports for profit and loss account items
PART 9: INTEGRATION
Integration of financial accounting with materials management:
Integration of financial accounting with sales and distribution:
Profitability analysis:
Maintaining the operating concern
Define profitability segment characteristics
Assignment of controlling area to operating concern
Activating the profitability analysis
Define number ranges for actual postings
Mapping of SD conditions types to COPA value fields
Creation of reports
Viewing the reports
Part 10: TAXATION AS PER THE COUNTRY REQUIREMENT
Define Tax procedure
Assign tax procedure to the country
Define condition types
Define tax keys
Assign the condition types and tax keys to the tax procedure.
Define tax codes
Creation of G/L Accounts for taxation
Posting of vendor and customer transactions with taxes.
PART 11
Foreign currency transactions
New general ledger
PART 12
Reports
Financial statement version
General Ledger, Accounts Payable, Accounts Receivable and Assets Reports
Interested to learn? Get in touch with us
Phone: +44 7836 212635
What’s App: + 44 7836 212635
Email: info@uplatz.com
The SAP FICO module online certification course trained by expert professionals provides wide range of job opportunities owing its finance related solution. The leading companies hire SAP FICO consultants to effectively manage stock using SAP FICO module.
The following are the job titles:
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SAP FICO Consultant
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SAP FICO Lead
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Project manager
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Team Lead
The SAP FICO consultant draws an average salary of 146,250 dollar per year based on seniority level.
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Interview Questions
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Define SAP FICO?
SAP FICO module is split into two different operations: SAP FI is ideally responsible for accounting, prepare finance statement, tax computations etc.. while SAP CO is responsible to intern orders, prepare cost sheet, inventory sheet, cost allotments etc..
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What does SAP FICO software do?
SAP FICO software is responsible to store data and compute them and pull out the result based on the existing market scenario.
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Is data secured in SAP FICO?
Yes, the data prevents data loss efficiently.
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List out the modules which is associated with financial accounting?
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Sales and Distribution
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Material management
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Human resource
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Production planning
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Control financial transaction
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List out the organization elements in SAP FI?
The organizational elements are:
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Company code
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Business area
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Functional area
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Accounting chart
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Define the posting key?
The two digit numerals entered the line item is referred as posting key.
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What does the posting key control?
The posting key determines:
Account types
Debit or credit posting
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Explain the SAP company code?
To regulate financial statements like profit and loss statement, balance sheet etc.. the company code is used.
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How many chart of accounts does a company code have?
The assigned company code has one chart of account.
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How many currencies are configured through the company code?
The three types of currencies configured are local currency, and the other two are parallel currencies.
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List out the options available in SAP for fiscal years?
Calendar year
Dependant fiscal year
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What is the use of FSV?
FSV also known a Financial statement version is a reporting tool which extracts final accounts from SAP such as profit and loss account, balance sheet.
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Name the default exchange rate type used across SAP Transactions?
The default exchange rate is M or Average rate.
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What is the biggest challenge while configuring a business?
The business configuration face biggest challenge when splitting an account balance which is pertinent in tax accounts.
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