SAP FI Modules
SAP FI can combine various modules into a single system for the company. This software includes all of the features needed to manage financial transactions and accounts. SAP FICO reports are widely used by banks, tax authorities, managers, and stakeholders. Financial statements are also generated by the software.
SAP FI includes the following sub-modules with specific functionalities:
- General Ledger: This is used to generate a comprehensive report for internal/external accounting. It contains all of the company’s transaction data and accounts. These can be recorded in real-time in sub-modules.
- Bank Ledger: This records all bank account transactions. It is capable of combining all transaction data on bank statements. The data can then be compared to transactions stored in the system.
- Accounts Receivable: These are the records used to manage all customer accounting data. It’s also used to keep track of customer accounts and transactions. Invoice payments, down payments, invoice posting, and customer reports are examples of these transactions.
- Funds Management: It is used to manage revenue and expense budgets.
- Consolidation: This sub-module enables the company to combine all financial statements from multiple entities. It also provides a comprehensive picture of the firm’s financial health.
- Accounts Payable: These records contain vendor accounting information. It also includes information about vendor transactions and vendor accounts.
- Asset Accounting: This sub-module is used to manage the assets of the company. All fixed assets, such as heavy equipment, land, and buildings, are included. Asset transactions in the module include sales, transfers, revaluations, and asset acquisitions.
SAP FICO- Intoduction, Features and Modules
SAP FICO is one of the most widely utilized SAP modules. Companies use this to manage their financial data. It is made up of two modules: SAP FI and SAP CO. As business operations are carried out daily, a large amount of financial data is generated. Sales orders, transactions, and purchases are all included.
Table of Content
- What is SAP FICO?
- Key Features of SAP FICO:
- SAP FI Modules:
- SAP FI implementation:
- SAP CO Modules:
- SAP CO implementation:
- Benefits of SAP FICO:
- Conclusion:
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