General Ledger Accounting : – SAP FI-G/L records all the transactions that posted in SAP and display the real-time status of the financial accounts of an organization.
Accounts Payable: – It is a sub ledger accounting that records all the business transactions of vendor purchase activities and generate automatic postings in general ledger accounting
Accounts Receivable: – It is a sub ledger accounting that records all the accounts of customer’s sales activities and generates automatic postings in G/L accounting.
Bank Accounting: – It controls and manages all the activities of bank transactions of an organization
Asset Accounting: – SAP FI AA sub-module manages and records the assets of an organization.
The important sub-modules of SAP Controlling (CO) are Cost Element Accounting: – In Controlling, all the costs and revenues are represented through cost elements. All the cost elements specifies the nature of expenditure and income. The different types of cost elements are Primary cost elements and Secondary cost elements.
Cost Center Accounting: – It provides the information of costs that are incurred in the organization.
Internal Order Accounting: – It tracks the costs of a specific job, service or a task. Internal order are used as a method to collect those costs and business transactions that are related to task.
Profit Center Accounting: – Profit center manages and controls the organizations profits and losses.
Product Cost Controlling: – Product cost enables the management to analysis the product costs and enables to take effective decisions on prices to make the products.
SAP FICO Organizational Structure
The important organizational elements of SAP FICO are
Operating Concern: – It is highest level of organizational unit for both SAP FI & CO module, where you can general profitability reports.
Company: -The creation of company in SAP is optional, it is only required to consolidate two or more company codes data at country level or segment level.
Company Code: – The creation of company code in SAP is mandatory, at least one company code to be implemented in SAP. It is a legal entity of organizational element and you can general financial statements for reporting.
Credit Control Area: – It is a mandatory organization unit of credit management module as it controls the credit limit for the customers at time of sales order process.
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