Knowledgable Content for Beginners and Consultants.
SAP FI MM Integration – Know the Basics First FI MM integration in SAP is an example of how different modules of SAP ERP systems are integrated. With the integration, SAP ensures that data from one module flows to another module automatically. How FI and MM are inter-related in SAP? Read more…
What is a Document Type in SAP FICO? The document type is a factor with which we can classify accounting documents in SAP. It is entered in the document header that distinguishes business transactions and helps in managing document storage. We define the Document Type at the client level, which Read more…
Chart of Accounts in SAP – Introduction The chart of accounts in SAP is a group of GL Accounts that controls the name of the General GL Master, the number of GL Master and some control information. In other words, the grouping of G/L accounts forms the framework for recording Read more…
What is SAP Asset Accounting? – An Overview Asset Accounting in SAP FICO can manage all your fixed assets, irrespective of your industry and country. We usually call it a subsidiary ledger of FI. (Article Updated: 29th May 2021) In addition, SAP has designed Asset accounting to manage the entire Read more…
Role of Payment Terms in SAP The terms of payment in SAP represent the specification of the payment conditions. This includes the number of days by which you need to make the payment or whether there is a discount for early payment. System Settings to configure Business Transactions In order Read more…
The automatic Payment Program or APP process in SAP FICO enables you to clear open items between customers and vendors. It further makes inter-company payments, processes both domestic and foreign payments and block payments, etc. You can use the SAP APP (Automatic Payment Program) to handle both outgoing and incoming Read more…
Closing activities in SAP FICO involve all the month-end and year-end activities for finance and controlling modules. Such as carrying forward the closing balance of ledgers, receivables and payables. Further includes the execution of depreciation run for fixed assets and many more. This article reflects important closing activities which put Read more…
Bank Accounting in SAP (FI-BL) – Introduction Bank Accounting in SAP is a sub-application within SAP Financial Accounting (FICO or S/4HANA Finance). It deals with managing accounting transactions with your banks. Further, it helps you to manage both incoming and outgoing payments for effective cash-balance management. Even more, you can Read more…
This list of SAP FICO Questions and answers mainly covers topics such as Foreign Currency Valuation, Documents Clearing, Open Items, GR/IR Clearing, Accounts Payable, Accounts receivable, Vendor Payment, APP (Automatic Payment Program), Payment Terms, etc. SAP FICO is the most popular module of SAP. Subsequently, many aspirants look for the Read more…
To get a job in SAP FICO, you first learn the subject. Whenever you plan to do something, make a to-do list. This would help you to move systematically and you can see your progress too. I have made a career planner here. By following the steps, you can beg Read more…