What is SAP FICO   FI Financials – SAP Controlling Meaning-  Syllabus, Detail, Topics, Fee
sap fico

What is SAP FICO FI Financials – SAP Controlling Meaning- Syllabus, Detail, Topics, Fee

What is SAP FICO Full Form & its meaning?

  • Full form or SAP FICO stands for FI (Financial Accounting) and CO (Controlling). SAP FICO   is a module used for financial reporting in any organization.

SAP FI (Financial Accounting)

  • The objective of SAP fico is to record financial transactions and generate financial statements that are accurate, reliable and necessary inputs for external reporting which can help management with effective business planning and decision-making.
  • SAP FI (Financial Accounting), module helps to manage financial accounting part seamlessly. Business managers can configure SAP FI.  These configurations are as per requirement of organisation and industry. Enterprises can to view their financial status in real-time,

SAP CO (Controlling)

  • On the other hand, SAP CO controlling focuses more narrowly on planning and monitoring of costs. SAP FI and SAP CO were originally released as separate modules but are now so tightly integrated that many people refer to them as simply one module.
  • This module contains master data, configuration and reporting.  Master data, here means cost centers & profit centers, functional areas, statistical figures and activity types. SAP CO allows users to view internal costs.  This helps management to make   informed decision-making.

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Let us discuss SAP fico course detail:-

  • SAP fico is one of many other sub-modules that are often used are accounts receivables, accounts payables, asset accounting, general ledger Accounting and bank accounting.
  • All the sub modules are linked together online and reports can be generated in real time. A trial balance, profit & loss, balance sheet and many other reports can be  extracted at any given time.

Below is the list of Sub Modules of SAP FI  ( Financials Accounting)

SAP FICO General Ledger accounting

  • In SAP fico, all accounts used in a company for reporting are managed through general ledger accounting. Set of all general ledger accounts used by a company is called a chart of accounts. These accounts are used for the preparation of financial statements. All the financial transactions are recorded SAP fico and then reconciled with the general ledgers in real time. Transactions can be recorded in general ledger Accounting including journal vouchers which are posted to adjust or correct transactions. Reversals can also be done from general ledger accounting.

SAP fico Accounts receivables

  • Accounts receivables is a sub module in SAP fi  which can capture all transactions with customers. Customer accounts will be updated when transactions are posted updated customer outstanding amount, amount receivable, ageing analysis of customers can be updated with the figures in real time. Type of Transactions in accounts receivables include invoice posting, memo, payment received etc. dunning generating customer reports.

SAP fico accounts payable

  • Accounts payables sub module of SAP FI will captures all transactions made with creditors/vendors. Separate creditors/ suppliers accounts shall be maintained and when transactions are posted, accounts are updated with the figures in real time.
  • Use can enter transactions like:- purchase invoice/ expense invoice, credit memo, payment made to vendors. After entering the transaction system will generate automatic vendor reports.

SAP fico Asset accounting

  • Asset accounting in SAP FI module will manage all transactions related to purchase and sales of fixed assets for organisation. When transactions are posted in asset accounts,   general ledger are updated in real time. Transactions in asset accounting include asset purchase,   asset sale, asset transfer, asset revaluation and depreciation.

SAP Fico Bank Accounting

  • Bank accounting module in SAP FI will record all transactions with the banks. Bank reconciliation needs to be done manually by entering the date of clearing of cheques then reconcile all transactions and them to transactions in the system. All SAP FI sub-modules are integrated and transactions are updated in real time

SAP fico syllabus (Topic List)

  • Students will learn Followings are the topics in SAP FI module,

1.     Topic covered under SAP Fico (Financial Accounting Basic Settings)

  • Definition of company
  • Definition of company code
  • Assignment of company to company code
  • Definition of business area
  • Definition of Chart of accounts and types of chart of accounts
  • Assignment of chart of accounts to company code
  • Definition of Account groups
  • Defining Retained Earnings Account
  • Definition of fiscal year variant, Short-end fiscal year
  • Assignment of fiscal year variant to company code
  • Definition of posting period variant
  • Assignment of posting period variant to company code
  • Open and close FI posting period
  • Defining document type & number ranges (internal and external)
  • Maintenance of field status variants
  • Assignment of field status variant to company code
  • Definition of tolerance groups for GL accounts
  • Definition of tolerance groups for employees

2.     Topic covered under SAP Fico (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 and postings with sample documents
  • Creation of account assignment model and posting
  • Configuration of line layouts for display of GL line items
  • Accrual and Deferral documents
  • Reversal of individual documents, mass reversal
  • Types of clearing – standard, partial and residual
  • Defining Exchange Rate types, Forex table and Translation and tables
  • Define Exchange rates & posting of foreign currency transactions
  • Interest calculations on term loans
  • Recurring documents
  • Tables and reports in GL

3.     Topic covered under SAP Fico (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 venders
  • Creation of vendor master (display/change/block/unblock of vender master)
  • Posting of vendor transactions (invoice posting, manual payment posting,
  • Settings for advance payments to parties
  • Posting of partial Payment & Residual Payment
  • Cash discounts from vendors and payment terms
  • Automatic payment program configuration with SEPA format
  • Bank master data and house banks
  • Payment advice generation, payment summary generation
  • Reversal of payment documents
  • Vendor clearing – standard, partial and residual
  • Check payment method and creating checks manually
  • Creation of check lots and maintenance of check register
  • Check encashment dates
  • Cancellation of unissued checks and issued checks
  • Creation of void reasons
  • Issued check cancellation
  • Deleting manual checks and voided checks
  • Defining correspondence & party statement of accounts
  • Real-time scenarios on APP
  • Intercompany payments – manual and automatic
  • Tables and reports in AP and APP

4.     Topic covered under SAP Fico (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 Posting of customer transactions (sales invoice posting, manual payment posting, debit memo) and related tables
  • Settings for advance payment from parties (down payment)
  • Configuration of settings for dunning and generating the dunning letters
  • Defining correspondence and party statement of accounts
  • Cash discounts to customers
  • APP configuration for incoming payments direct debit
  • Customer clearing – standard, partial and residual
  • Tables and reports in AR

5.     Topic covered under SAP Fico (Bank Accounting)

  • House bank
  • Bank key
  • Bank account
  • Bank clearing accounts
  • Electronic bank statement (EBS):
  • Auto Lockbox: Configuration and execution
  • Cash journal/SAP query

6.     Topic covered under SAP Fico (Asset Accounting)

  • Defining chart of depreciation, depreciation areas
  • Creation of 0% tax codes for sales and purchases
  • Assignment of the chart of depreciation to company code
  • Defining account determination
  • Definition of screen layout rules
  • Definition of number ranges for 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
  • Acquisition/purchase of fixed assets
  • Sale/retirement of fixed assets
  • Transfer of assets (intra and intercompany)
  • Scrapping of assets
  • Depreciation run
  • Asset history report, Asset explorer and Asset documents
  • Line item Settlement of assets under construction of capital work in progress
  • Year-end activities
  • Asset mass changes
  • Tables and reports in AA

Now let us discuss SAP CO in detail

  • SAP CO helps in coordination and, monitoring, processes. It includes configuration of master data that is related to cost and profit centers of organization.   Primarily SAP CO is used for planning to   compare actual cost and profit data with budgets.

 Below is the list of Sub Modules of sap controlling module

SAP Controlling module Cost and Revenue Element

  • This sub module allows users to administer costs and revenues of  their organization. It calculates costs which are individual expenses in Financial Accounting or have no other associated expense.

SAP Controlling module Cost Centre Accounting:

  • This sub module is mostly used for managing cost  within organizations , for example telephone expenses can be appropriated among different telephone connections in the company at an internal level.

SAP Controlling module Activity-Based Accounting:

  • As the name suggests this sub module is used to analyse any  changes among different departments, work teams or profit centers or cost centers across the organization, which is very crucial for any business processes.

SAP Controlling module Internal Orders:

  • This sub-module is used to monitor jobs that are assigned internally. For example a particular employee or department assigned a task for a given time, then revenue generated from that task and expenses allocated can be analysed and monitored. Predefined Budgets can be assigned for these jobs.

SAP Controlling module Product Cost Controlling:

  • This sub-module helps calculate the cost of manufacturing products or providing services. Also, the exact cost for profitability marketing can be evaluated using Product Cost Controlling.

SAP Controlling module Profitability Analysis:

  • This sub-module can be used to analyze the profit or loss of organizations by defragmenting market segments to individual units. Informed decision making in fuelled by Profitability Analysis.

SAP Controlling module Profit Centre Accounting:

  • This sub-module can be used to evaluate the profit and loss of individuals and autonomous and independent areas within organizations.

SAP Controlling module Product Costing

  • This module manages the data about costs required to produce the company’s goods and services. Product costing analysis can help manage manufacturing costs and optimize efficiencies.

SAP Controlling module Syllabus (Topics)

1.     Topic covered under SAP Controlling (Basic settings for controlling)

  • Defining Controlling Area
  • Defining Number ranges for Controlling Area
  • Maintain versions

2.     Topic covered under SAP Controlling Cost element accounting

  • Creation of primary cost elements from FI and CO
  • Manual and automatic creation of primary and secondary cost elements
  • Grouping of cost elements
  • Change cost element master records
  • Primary cost element categories and Secondary cost element categories
  • Default account assignments

3.     Topic covered under SAP Controlling Cost Center Accounting

  • Defining Cost Center Standard Hierarchy
  • Creation of Cost Centers and cost center groups
  • Display and change cost center master records
  • Creation of cost center groups
  • Actual posting to cost centers
  • Reposting of CO line items
  • Repost of costs
  • Planning for cost centers
  • Actual and variance reports

4.     Topic covered under SAP Controlling Internal Orders

  • Defining order types
  • Creation of internal order master records
  • Display and change internal order master records
  • Postings to internal orders
  • Planning for internal orders
  • Reposting co line items for internal orders
  • Repost of costs for internal orders
  • Report of Actuals and Variance analysis for internal orders
  • Creation of real and statistical internal orders
  • Posting of business transaction to real orders
  • Definition of allocation structures
  • Definition of settlement profiles
  • Definition of planning and budget profiles
  • Settlement of real internal orders
  • 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
  • SAP Business workplace

5.     Topic covered under SAP Controlling: 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
  • Maintenance the number ranges for profit center documents
  • Creation, change and display of profit center master records
  • 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
  • Planning for balance sheet items
  • Posting of transactions into profit centers
  • Generating the variance reports for profit and loss account items
  • Generating the variance reports for balance sheet items
  • Transferring balances from one PC to another PC

6.     Topic covered under SAP Controlling Profitability analysis

  • Maintaining the operating concern and related tables
  • 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
  • PA transfer structure
  • CoPA document generation from Billing and FI document
  • Creation of reports – Report painter
  • Viewing the reports

7.     Topic covered under SAP Controlling (Product costing)

  • Creation of bill of materials BoM
  • Creation of activity type master records
  • Planning for activity hours
  • Activity type price calculation
  • Creation of work center master records
  • Creation of routings
  • Defining cost sheet (overhead structures)
  • Assignment of cost sheet to costing variant
  • Cost component structure
  • Creation of cost estimate with quantity structure
  • Marking
  • Releasing – price change document
  • Creation of cost estimate without quantity structure
  • Additive costing
  • Base planning object (Reference or Simulation costing)

SAP FICO fee in Delhi at IPA

IPA offers SAP Fico at its Delhi Center, classes are given both online and classroom,  SAP fico fee has kept very nominal   Rs.15,000/=  for FI module and Rs. 10,000 for CO module.  Total Fee for both modules Rs. 20,000

PA offers Online Live Classes by Experts in SAP FICO Course  

  •  IPA delivers SAP fico course with expertise professionals need for better management of finance accounting and reporting in enterprises. Get SAP fico online – “Live Classes” that meets your needs. IPA SAP Fico Training institute enables professional designed short term and long term courses. Now choose the right path suitable for you:
  • IPA offers SAP fico course in Delhi