SAP FICO Online Training

What is SAP FICO:  SAP FICO stands for Financial Accounting (FI) and Control (CO) and is one of the core modules in the SAP suite which covers the financial and management accounting aspects of a business.  It’s specially designed to include all aspects of an accounting and administration lifecycle and comes with the advantage of easy customization, reporting, integration with other core modules and much needed reliability.

Demand for FICO Professionals: SAP FICO professionals are in very high demand as enterprises world over are actively moving to implementing SAP solutions to better manage and optimize their business process.  FICO consultants can either be a Technical Consultant (For actual solution implementation) or a Functional Consultant (For mapping the business requirements to a SAP environment). Our online training course in SAP FICO extensively covers all the fundamentals of FI and CO, with an emphasis on common accounting terms and their implementation in SAP, exposure to real-time implementation scenarios and live projects. This gives our users the much needed advantage of excellent domain knowledge with a practical understanding. SAP FICO has a higher market then other core modules as Financials and Accounting are an integral part of every business enterprise.  Get set for a dream career as a SAP consultant by choosing our online courses.

The SAP FICO course contents:

FICO has two components-FI and CO. The course begins with an introduction to the SAP environment along with its architecture.

FI Component: The FI module has sub-modules for Assets, Accounts payables and receivables, bank and ledger accounting and fund management. It deals with all financial transactions and the core data flow into the system. On a broader note, the FI module deals with the external aspects of the financials of an enterprise.

CO Component: The CO module deals with the way the data, analytics and reports from the FI module are used in a business perspective to help them take better decisions and optimize costs. It’s used for an internal management or control over the financial aspects of a business. This module deals with cost and profit centres, cost element accounting, internal orders, profitability analysis, managerial accounting, valuations etc.

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Introduction to ERP

Introduction to SAP

These areas will be covered during the demo session

  • Part 1 : Enterprise Structure:
  • Definition of company
  • Definition of company code
  • Assignment of 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

PART 3: 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 postings with sample documents
  • Reversal of individual documents, mass reversal and reversal of reversed document
  • Month End Provisions –
  • Open item Management – Full clearing, Partial Clearing and Residual Clearing
  • Accrual and Deferral documents
  • Interest calculations on term loans

PART 4:

  • 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 vendors
  • Creation of vendor master (display/change/block/unblock of vendor master)
  • Posting of vendor transactions (invoice posting, payment posting, credit memo)
  • Display Vendor balances and G/L Balances
  • Configuration Settings for advance payments to Vendors (down payment)
  • 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 Creation of void reasons
  • Maintenance of check register
  • Display check register
  • Cancellation of unissued checks
  • Cancellation of issued checks
  • posting of purchase returns
  • Configuration of automatic payment program
  • Payment to vendors through APP
  • Defining correspondence & party statement of accounts

PART 5:

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 (display/change/block/unblock of vender master)
  • Posting of customer transactions (sales invoice posting, payment posting, debit memo)
  • Display customer balances and G/L Balances
  • Configuration Settings for advance payment from customers (down payment)
  • Configuration settings for terms of payment to customers
  • Configuration of settings for dunning
  • Generating the dunning letters
  • Defining correspondence and party statement of accounts
  • Bills of exchange
  • Posting of sales returns

PART 6:

Asset Accounting:

  • Copy reference chart of depreciation
  • Assignment of chart of depreciation to company code
  • Creation of 0% tax codes for sales and purchases
  • Defining account determination
  • Definition of screen lay out rules
  • Definition of number ranges for asset master
  • Creation of 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
  • Posting the transactions for Acquisition of fixed assets
  • Depreciation run and Asset explorer
  • Sale of fixed assets – with customer and without customer
  • Transfer of assets
  • Impairment of assets
  • Scrapping of assets,
  • Line item Settlement of assets under construction of capital work in progress

PART 7

CONTROLLING

  • Basic settings for controlling
  • Defining Controlling Area
  • Defining Number ranges for Controlling Area
  • Maintain Planning Versions

Cost element accounting:

  • Creation of primary cost elements from financial accounting area
  • Creation of primary cost elements from controlling area
  • Display of cost element master records
  • Change cost element master records
  • Primary cost element categories
  • Secondary cost element categories

Cost Center Accounting:

  • Defining Cost Center Standard Hierarchy
  • Creation of Cost Centers and cost center groups
  • Display cost center master records
  • Change cost center master records
  • Creation of cost center groups
  • Posting to cost centers
  • Reposting of co line items
  • Repost of Costs
  • Planning for cost centers
  • Cost center reports

PART 7

  • Internal Orders – statistical orders
  • Define field status group for statistical orders
  • Creation of Primary cost element
  • Creation of internal order master records for statistical orders
  • Display internal order master records
  • Change internal order master records
  • Postings to internal orders
  • Planning for internal orders
  • Report of Variance analysis for internal orders
  • Real orders
  • Creation of real internal orders
  • Posting of business transaction to real orders
  • Definition of allocation structures
  • Definition of settlement profiles
  • Definition of planning profiles
  • Define number ranges for Settlement documents of real internal orders
  • Define number ranges for controlling documents.
  • 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

Part 8

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
  • Maintaining the number ranges for profit center documents
  • Creation of profit center master records
  • Display of profit center master records
  • Changing the profit center master records
  • Assign profit center to cost center for expenditure posting
  • 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
  • Posting of transactions into profit centers
  • Generating the variance reports for profit and loss account items

PART 9:

Integration

Integration of financial accounting with materials management:

Integration of financial accounting with sales and distribution:

Profitability analysis:

  • Maintaining the operating concern
  • 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
  • Creation of reports
  • Viewing the reports

Part 10

OVERVIEW PRODUCT COSTING

New General ledger accounting:

Reports:

Financial statement version

General Ledger, Accounts Payable, Accounts Receivable and Assets Reports

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Why Choose Us: Our online training course in SAP FICO has been prepared by industry experts with a rich experience in SAP implementation. It’s designed to give you a thorough understanding of the FICO concepts along with a practical approach to training that allows you to easily relate them to real-time implementation scenarios.  You get the unmatched flexibility of choosing from weekday or weekend batches so as to easily pursue the course in your current work or study schedule. A 24/7 access to interactive training resources and support gives you the freedom of completing the training at your own pace and convenience.

The Advantage you get:  We at Garuda Trainings endeavour to make you a successful SAP FICO consultant by also giving you the included advantages of placement assistance, extensive interview questionnaires, and tips on resume writing along with guidance to SAP certification. Choose our online training course in SAP FICO and jumpstart your career as a successful ERP consultant