ERP-SAP FICO

ERP-SAP FICO

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Description

Join SAP FICO Training Institute- To Build a Successful Career

SAP FICO is a module of SAP ERP used to report financial information internally and externally. The aim is to track the financial transactions reported by an organization and create precise financial statements at the close of that trading time.

SAP FICO is the complete form of SAP FICO. The full paper is the FI, i.e., Financial Accounting, and CO, i.e., Controlling.

This SAP FICO Training Institute will provide an SAP FICO overview and the main functions associated with this SAP FICO program.

SAP FI is created from SAP FICO sub-modules. The most frequently employed are accounts receivables assets accounting, accounts payables general ledger Accounting, and banking accounting.

All sub-modules are connected and work in real-time. A trial balance is removed at any point and will remain balanced since all submodules are interconnected. The below diagram illustrates the interconnection of FICO and the SAP module.

Benefits of Getting SAP FICO Certification from SAP FICO Training Institute

This module of Financial Accounting within SAP has been designed to present the company's business transactions in a manner that meets the external requirements for reporting.

The system allows for tracking and reporting on companies in different countries using various currencies.

It also provides integration with distribution and sales and buying and managing materials. It lets the user go back to the initial transaction, whether it's an order for sale, purchase order, or even material transfer.

Work as A Primary Component

SAP FICO Module is considered the primary component in the integrated SAP system as everything that impacts the financials of other modules results in flowing into FICO immediately in real-time.

The financial implications of operations in the different modules are reported to FI.

Therefore, it is crucial to establish an FI/CO-based system as fast as possible since this will serve as the foundational structure of the whole system.

Serving Global Solutions

One of the significant benefits of SAP is the system's integration. SAP FICO provides one of the most comprehensive global solutions for managing finances.

By using SAP FI/CO, an organization can improve its business performance.

Additionally, SAP FI allows you to rapidly analyze, read and adapt to evolving business conditions and develop successful strategies.

Transparency with Workflow

Apart from facilitating quicker closure of processes, one can simplify process scheduling, consolidation, and workflow.

In addition, SAP systems also allow greater transparency between departments or divisions and enhance corporate governance.

Balance Relevant Accounting Standards

SAP also ensures better compliance with federal regulations and accounting standards and provides the best overall management of controls within the internal system.

SAP FICO also automates credit and collections management and disputes, if there are any.

SAP FICO also offers the production of invoices, bills, and electronic payments, which enhance the traditional accounts payable and receivables functions.

Management of Cash Flow to The Diverse Locations

Another benefit of getting self-trained from one of the best SAP FICO Training Institutes in Ghaziabad is better managing cash across locations, countries, or continents.

In addition, it also allows you to analyze and report on the allocation of funds in real-time and even set up bank branches or payment centres.

Quicker Report Writing Sessions

Apart from improving management and financial report writing, SAP allows reporting results according to the cost centre, organization, or business unit. Additionally, it facilitates the integration of treasury and finance processes.

It is also possible to integrate the functions of risk and treasury along with financial reporting and accounting.

SAP provides a competitive cost of financing and allows you to develop innovative processes, join forces with other suppliers in a distribution chain and develop services globally with a collaborative approach.

How does SAP FICO Training Institute Ghaziabad furnish you as a Worthy employee of an organization?

The SAP FICO application is more than other financial software built on platforms such as Oracle, BAAN, etc., due to its easy integration with other systems and quick set-up features.

Additionally, due to its integration with other crucial modules like Inventory, Production or HR, etc., SAP FICO helps reduce your employees' time productivity.

As we experience many technological advances and the rapid development of software that is taking place. A business must accelerate its expansion with effective solutions like SAP FICO, the SAP ERP Software.

Suppose you're constantly squeezed to make time for the enormous amount of accounting and control tasks and search for an efficient software solution and SAP FICO. In that case, it can solve every accounting issue.

Here we will discuss some of the significant benefits that the implementation of SAP FICO training institute will bring Professionalism to you:

  • Facilitates smooth financial accounting and control functions.
  • Offers fast, reliable, and pertinent data to complete external reporting requirements, such as Balance Sheets, Profit and Loss Statements, and Profitability Analysis.
  • It helps you track and monitor the data of various profit and cost centres globally on one platform.
  • React to changes in business requirements efficiently and promptly.
  • It improves the performance of the company and helps with business strategy formulation.
  • Facilitates processes like scheduling financial consolidation, scheduling, and cooperation with different departments and ensures transparency across the company.
  • Better management of cash flow Receivables and receivables, collections management accounting, finance and treasury tasks, etc.
  • Facilitates better practices for following the government's accounting standards and regulations, the rule of internal processes, and more.
  • Analytical reporting, audit control, budgeting, profitability analysis, etc., are only some essential aspects that make the program flexible.

Benefits of SAP FICO Training

If you are in financial and managerial accounting or want to advance your career by moving into more senior management positions, you should grasp SAP FICO. SAP FICO Training Institute Ghaziabad improves your professional skills and offers an understanding of operational processes and strategic planning.

SAP FICO Training with certification will allow you to learn your SAP FICO application within a brief time. Here are a few advantages of taking part in training within this SAP FICO program:

  • Enhances your understanding of the latest developments in the world of finance.
  • We provide you with the latest software tools for managing your financial operations within your company.
  • It helps you improve your business's financial management processes, thereby increasing your company's value.
  • Greater coordination among various tasks across the workplace leads to more efficient business processes.
  • It improves your professional development and offers you more job prospects.

These are only some of the benefits of the SAP FICO training. SAP FICO is closely linked to other modules, such as SAP SD (Sale and Distribution).

You might be interested in this SAP SD-related training to see the whole image.

There's a whole new world of possibilities available with SAP software, and you and your company can benefit from this software quickly.

To have a well-organized and efficient approach to accounting and controlling finances within your company, you should implement SAP FICO today! SAP FICO module now!

Bottom Lines for concluding….

Softcrayons is the best SAP FICO Training Institute in Ghaziabad. You can contact them and make your career more approachable for different industries.

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Curriculum

  • 12 Chapters
  • Introduction to ERP, Advantages of SAP over other ERP Packages
  • Introduction to SAP R/3 FICO
  • Creation and assignment of company and company code
  • Creation of business area
  • Defining and assignment of fiscal year variant
  • Defining and assignment of posting period variant
  • Defining open and closing posting periods
  • Defining document type & number ranges
  • Maintenance and assignment of field status variants
  • Defining and assignment of tolerance groups of employees
  • Taxes on Sales & Purchases (input & output)
  • Creation of chart of Accounts
  • Defining Accounts Groups
  • Defining Retained Earnings Account.
  • Defining tolerance groups for G/I accounts
  • Creation of General Ledger Master (with and without reference)
  • Display/Change/Block/Unblock of general ledger master
  • Document Entry posting normal postings posting with reference
  • Display and change documents
  • Display of GL balances and Line items
  • Parked documents & hold documents
  • Creation of Sample Document and posting
  • Defining recurring entry document and posting
  • Configuration of line layouts for the display of GL line items
  • Reversal of individual documents, mass reversal, reversal of cleared items, and reversal of accrual and deferral documents
  • Defining Exchange Rate types and Translation ratios
  • Define Exchange rates & posting of foreign currency transactions
  • Interest calculations on term loans
  • Creation of vendor account groups and assignment of number ranges
  • Creation of tolerance group for venders
  • Creation of vendor master (display/change/block/unblock of vender master)
  • Posting of vendor transactions (invoice posting, payment posting, credit memo)
  • Settings for advance payments to parties (down payment) and 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 maintenance of check register
  • Configuration of automatic payment program
  • Payment to vendors through APP
  • Un-issued & issued checks cancellation and reversal of issued checks.
  • Defining correspondence & party statement of accounts
  • Creation of customer account groups and assignment of number ranges
  • 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)
  • Settings for advance payment from parties (down payment)
  • Configuration of settings for dunning
  • Defining correspondence & party statement of accounts
  • Defining chart of depreciation
  • Defining account determination, screen layout, number ranges and asset classes.
  • Integration with General Ledger & Posting rules
  • Creation of asset master and sub asset master (change/display/ block/unblock)
  • Defining Depreciation key (base, declining, multilevel, period control methods)
  • Acquisition or purchase of assets, sale of assets
  • Scrapping of assets, Transfer of assets
  • Post Capitalization and write up
  • Depreciation run
  • Line Settle of assets under construction of capital work in progress
  • Financial statement version
  • GL Reports
  • Accounts payable reports
  • Accounts receivable reports
  • Assets
  • Basic settings for controlling
  • Defining Controlling Area
  • Defining Number ranges for Controlling Area
  • Maintain Planning Versions
  • Creation of Primary and Secondary Cost Elements
  • Creation of Cost Element Groups
  • primary cost element categories and secondary cost element categories
  • Defining Cost Center Standard Hierarchy
  • Creation of Cost Centers and cost center groups
  • Planning for cost Center, posting to cost centers
  • Repost of Costs
  • Creation and Execution of Distribution Cycle
  • Creation and execution of assessment cycles
  • Cost Center reports
  • Defining order types
  • Creation of internal orders
  • Planning of internal orders
  • Postings to internal order
  • Report of Variance analysis
  • Basic Settings for Profit Center Accounting
  • Creation of Dummy Profit Centers
  • Maintaining versions for profit centers
  • Creation of profit centers and profit center groups
  • Creation of revenue cost elements
  • Automatic Assignment of Revenue elements for Profit Centers
  • Postings to profit centers, planning and variance reporting
  • Procurement cycle
  • Integration with MM
  • Sales process integration with SD
  • Integration with asset accounting

Student Feedback

3 Rating

Reviews

Anita
24 June 2023

I am Anita Singh from Noida. By my friend reference I taken admission in SAP Training Institute in Noida. Really very good institute now I am working in a MNC in Noida.

kashish
28 January 2024

SoftCrayons goes the extra mile in helping students kickstart their careers. The placement assistance provided by the institute is commendable. From resume building to interview preparation, they equip you with the skills needed to secure a job in the ERP domain. I am grateful for the opportunities SoftCrayons has opened up for me.

amansingh
28 January 2024

What sets SoftCrayons apart is the supportive learning community they have fostered. The collaborative atmosphere among students and the constant support from trainers made the learning journey enjoyable. I felt encouraged to ask questions and seek help, creating a positive and conducive learning environment.

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