SAP FICO Tutorial Summary

SAP FICO is the Finance and Cost controlling module in SAP ERP, where FI
stands for Financial Accounting, and CO stands for Controlling. SAP FICO
module is very robust and covers almost all business processes encountered in
various industries. It is one of the very important and widely implemented modules
in SAP. This FREE SAP FICO training is designed for beginners as well as for
intermediate learners. This SAP FICO basics for beginner’s tutorial will help you
learn SAP FI module and SAP CO module.

What is SAP FI?

SAP FI is an important module of SAP ERP. It is mainly used to store financial
data in the company. It helps to analyze the financial conditions of an organization.
It also enables users to manage accounting data of multiple companies, currencies,
and languages. SAP FI stands for Financial Accounting.

Why Learn SAP FICO?

SAP FICO is one of the important SAP ERP modules, which is widely used for
financial management in the market. So, there are huge career opportunities
worldwide for the candidates having skills in the SAP FICO module.

What will you learn in this SAP FI Basics Tutorial for

Beginners?
In this SAP FICO Course content, you will learn SAP FI basics, SAP finance
module, Accounts Receivable, Accounts Payable, Reports, Month End Closing,
Dunning, SAP CO basics, Internal Order, Profit Center, etc.

Prerequisites for learning SAP FICO course?

Before starting to learn this SAP FI tutorial, it is preferable to have:

1. Knowledge of Accounting.
2. Knowledge of SAP.

SAP FICO Syllabus

Introduction of SAP FI

 Tutorial SAP FICO: What is, Introduction, Full Form & FICO Module
 Tutorial How to Create a Company in SAP

 Tutorial Create a Company and assign to Company Code in SAP

General Ledger

 Tutorial How to Create Chart of Accounts in SAP

 Tutorial How to Define Retained Earnings Account in SAP

 Tutorial GL Account in SAP Tutorial: Create, Display, Block & Delete FS00

 Tutorial General Ledger (G/L) Posting in SAP: PCP0 & PC00_M99_CIPE

 Tutorial How to create Financial Statement Version (FSV) in SAP

 Tutorial How to perform a Journal Entry Posting FB50 in SAP

 Tutorial Create Fiscal Year Variant & Assign to Company Code in SAP: Complete Tut

 Tutorial How to Define Posting Period Variant in SAP

 Tutorial How to Open and Close Periods in Posting Period Variant in SAP

 Tutorial How to Define Field Status Variant & Field Status Group in SAP

 Tutorial How to Define Document Type and Number Range in SAP FICO

 Tutorial G/L Document Tutorial: Park, Hold, Posting with Refrence in SAP

Accounts Receivable
 Tutorial Introduction to Accounts Receivable in SAP FI
 Tutorial Customer Master Data Tutorial: Create, Display, Block, Delete in SAP

 Tutorial FB02 in SAP: Change Customer Documents Tutorial

 Tutorial How to Create Customer Account Group in SAP

 Tutorial How to Create One Time Customer FD01 in SAP

 Tutorial How to Create Customer Sales Invoice FB70 in SAP FICO

 Tutorial Document Reversal FB08 in SAP: Step by Step Guide

 Tutorial FB75 in SAP: Guide to Post a Sales Returns – Credit Memo

 Tutorial How to post Customer Incoming Payments F-28 in SAP

 Tutorial How to Post Foreign Currency Invoice FB70 in SAP

 Tutorial Residual Method: Incoming & Outgoing Partial Payments Posting in SAP

 Tutorial Partial Method: Incoming & Outgoing Partial Payments Posting in SAP

 Tutorial FBRA: How to Reset Cleared Items in SAP

 Tutorial FD32 in SAP: Credit Control Area Tutorial

Accounts Payable
 Tutorial Introduction to Accounts Payable in SAP FI

 Tutorial How to Create a Vendor Account Group in SAP FICO

 Tutorial How to Block or Delete a Vendor in SAP FICO

 Tutorial Step by Step Guide to Create Vendor Master Data in SAP

 Tutorial How to Create One Time Vendor FK01 in SAP

 Tutorial FB60 in SAP: How to post a Purchase Invoice

 Tutorial How to post a Purchase Return FB65 in SAP FI

 Tutorial How to post Outgoing Vendor Payment F-53 in SAP

 Tutorial Withholding Tax in SAP during Vendor Invoice & Payment Posting

 Tutorial Automatic Payment Program Run F110: SAP Tutorial

 Tutorial How to Map Symbolic Account to G/L Account in SAP

 Tutorial Posting Rounding Differences in SAP Tutorial

Reports
 Tutorial Important Reports in SAP FI

Must know!
 Tutorial Foreign Currency Revaluation in SAP: Month End Closing

 Tutorial SAP FI Important TABLES: Must Know!

 Tutorial How to perform Dunning: SAP F150

 Tutorial How to Maintain Exchange Rates in SAP

  Tutorial SAP Correspondence Tutorial: Configuration, Generation, Printing & Email

 Tutorial Top 50 SAP FICO Interview Questions and Answers

 Tutorial SAP FICO PDF: FI Module Material Download

 Tutorial 9 SAP eBook Bundle

SAP CO Basics
Cost Center

 Tutorial How to create a new COST CENTER: SAP KS01

Internal Order
 Tutorial All About Internal Order in SAP

 Tutorial Settlement of Internal Orders Tutorial: KO02 & KO88 in SAP

Profit Center
 Tutorial SAP Profit Center Tutorial: Create, Group, Posting & Planning

 Tutorial Creation Of Profit Center using Standard Hierarchy in SAP

 Tutorial How to assign Cost Centers to Profit Center in SAP

 Tutorial How to assign materials to Profit Center in SAP

Must Know!
 Tutorial SAP CO Tables: Important Tables in Controlling Module

 Tutorial Cost Center and Profit Center in SAP: What is the Difference?

What is SAP FICO?

SAP FICO is a module of SAP ERP which is used for financial reporting both
externally and internally. The objective is to record all financial transactions that
are posted by an entity and produce financial statements that are accurate at the end
of the trading period. The SAP FICO full form is FI (Financial Accounting) and
CO (Controlling).

This SAP FICO basics tutorial is going to explain SAP FICO overview and the
major functionalities of the SAP FICO module.

SAP FI is made up of SAP FICO sub modules. The sub-modules that are often
used are accounts receivables, accounts payables, asset accounting, general
ledger Accounting and bank accounting.

All the sub modules are interlinked and integrate in real time. A trial balance can
be extracted at a time and it will always balance because all the sub modules are
connected. The diagram below shows the integration between FICO SAP modules.

SAP FICO

General ledger accounting

All general ledger accounts that are used for reporting are managed through
general ledger accounting. In SAP a set of all general ledger accounts used by a
company or a group of companies is called a chart of accounts. These are the
accounts that will be used for the preparation of financial statements. Most of the
transactions are recorded in sub modules and they are reconciled with the general
ledgers in real time. Transactions that can be done in direct in general ledger
Accounting include journal vouchers which are posted to adjust or correct
transactions. Reversals can also be done from general ledger accounting. Balances
in general ledger accounts can be displayed and trial balances extracted from the
system.

Accounts receivables
Accounts receivables in FICO SAP is a sub module that captures all transactions
with customers and manages customer accounts. Separate customer accounts will
be maintained and when transactions are posted in customer accounts,
reconciliation accounts in general ledger are updated with the figures in real time.
Transactions in accounts receivables include invoice posting, credit memo posting,
down payments, invoice payment, dunning and executing customer reports.

Accounts payables
Accounts payables is a sub module that captures all transactions with vendors and
manages vendor accounts. Separate vendor accounts are maintained and when
transactions are posted in customer accounts, reconciliation accounts in general
ledger are updated with the figures in real time. Transactions in accounts payables
include invoice posting, credit memo posting, down payments, invoice payment,
automatic payment program and executing vendor reports.

Asset accounting
Asset accounting in SAP FICO manages all transactions realted to assets for an
entity. When transactions are posted in asset accounts, reconciliation accounts in
general ledger are updated in real time. Transactions in asset accounting include
asset acquisition, asset retirement, asset sale, asset transfer, asset revaluation and
asset depreciation.

Bank accounting
Bank accounting captures all transactions with the banks. Bank reconciliation is
done to reconcile all transactions recorded on bank statements comparing them to
transactions in the system.

All SAP FI sub-modules are integrated and transactions are updated in real time
which means accurate financial statements can be extracted from the system at any
time.

Summary
 SAP FICO introduction: SAP FICO module is a module of SAP ERP which
is used for financial reporting both externally and internally.
 SAP FICO meaning: SAP Financial Accounting (FI) and Controlling (CO)
 All general ledger accounts that are used for reporting are managed through
general ledger accounting. In SAP a set of all general ledger accounts used
by a company or a group of companies is called a chart of accounts.
 Accounts receivables is a sub module that captures all transactions with
customers and manages customer accounts.
 Accounts payables is a sub module that captures all transactions with
vendors and manages vendor accounts.
 Asset accounting manages all transactions realted to assets for an entity.
 Bank accounting captures all transactions with the banks.