SAP Finance and Controlling (FICO) is a core module in SAP ERP where FI stands for Financial Accounting and CO stands for Controlling. SAP FICO module is very robust and covers all financial processes followed in diverse industries. SAP FICO system enables you to centrally track financial accounting data within an international framework of multiple companies, languages, currencies, and charts of accounts. SAP FICO module mainly deals with essential elements such as fixed assets, accrual, bank, cash journal, inventory, tax accounting, general ledger, accounts receivable, accounts payable, fast close functions, financial statements, parallel valuations, master data governance, and the like.
Introduction: Introduction to ERP Introduction to SAP Part 1: Enterprise Structure: Definition of company Definition of company code Assignment of a 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
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