SAP FICO is a module within SAP ERP software, specifically designed for managing an organization’s finances. It stands for FI (Financial Accounting) and CO (Controlling), representing the two main functionalities it combines. Here’s a breakdown of what SAP FICO offers:

Financial Accounting (FI):

• Records all financial transactions: This includes accounts payable and receivable, general ledger, fixed assets, and cash management.
• Supports financial reporting: Generates reports for various stakeholders (investors, management, regulatory bodies) based on accounting standards.
• Facilitates tax calculations: Helps calculate and manage various taxes applicable to the organization.

Controlling (CO):

• Cost Management: Tracks and analyzes all costs incurred by the organization, providing insights into cost drivers and enabling better budgeting.
• Profitability Analysis: Helps understand the profitability of different departments, products, or projects.
• Planning and Budgeting: Supports creating financial plans and budgets based on historical data and forecasts.

Benefits of using SAP FICO:

• Improved Financial Visibility: Provides a centralized platform for managing all financial data, offering a clear view of the organization’s financial health.
• Enhanced Reporting and Analysis: Generates comprehensive financial reports and facilitates in-depth analysis for better decision-making.
• Streamlined Processes: Automates many financial tasks, improving efficiency and reducing manual errors.
• Regulatory Compliance: Helps ensure adherence to relevant accounting standards and tax regulations.

Who uses SAP FICO?

• Finance Professionals: Accountants, controllers, financial analysts, and anyone involved in managing the organization’s finances rely on SAP FICO for their daily tasks.
• Management: Senior management leverages the reports and insights generated by SAP FICO to make informed business decisions.
• Other Departments: Departments like Sales or Operations might use SAP FICO for tasks like creating sales orders or managing project costs.

Considering SAP FICO training?

If you’re interested in a career in finance or accounting, especially within organizations that use SAP ERP, then SAP FICO training can be valuable. It equips you with the skills to:

• Navigate the SAP FICO interface and perform various financial transactions.
• Configure and maintain the system according to the organization’s specific needs.
• Generate financial reports and analyze financial data.

Overall, SAP FICO is a crucial component of SAP ERP software, empowering organizations to effectively manage their finances, streamline financial processes, and gain valuable insights for data-driven decision-making.

SAP FICO ECC SYLLABUS

Introduction to FICO Module ( ECC)

What is ERP?

ERP Advantages

ERP Packages

SAP Implementation Overview

SAP – Project Lifecycle

What is ECC

What is SAP

What is SAP FICO

What is T-Code

How Many Modules in SAP ?

Stages of SAP Project Lifecycle

•  Evaluation
• Project Preparation
• Business Blueprint
• Realization
• Testing
• Final Preparation
• Go-live
• Sustain / Support
• SAP Landscape

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Enterprise Structure

•  Company Creation
• Company Code
• Business Area
• Assign Company Code to Company

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 Financial Accounting – Global Setting

 Fiscal Year Variant

• Calender Year
• Non-Calender Year
• Shortened Fiscal Year
• Pre-Defined Variants Available in SAP
• Define Fiscal year variant
• Assign Company Code to Fiscal Year Variant
• What is Special periods

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Posting Period Variant

• Definition of Posting Period Variant
• Assign Posting Period Variant to Company Code
• Open and Close Posting Periods

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Field Status Variant

• Define Field Status Variants
• Assign Company Code to Field Status Variants

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Document Type

• Document Number Ranges
• Define Number Ranges For Document Type
• How to Copy Document Number Range from Company Code?

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Tolerance Groups

• Employee tolerances
• General ledger account tolerances
• Customer or vendor tolerances
• Define Tolerance Groups For G/L Accounts
• Define Tolerance Groups For Employees
• Assign Users to Tolerance Groups

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Chart of Accounts

• Operational COA
• Country COA
• Group COA
• Define Chart of Accounts
• Assign Company Code To Chart Of Accounts
• Define Account Groups
• Define Retained Earnings Account

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General Ledger Accounting

•  How to Create GL Accounts?
•  Document Posting
• Document Reversals
• Hold Documents
• Park Documents
• Sample Document
• Recurring Document

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Account Payable

• Creation of Vendor Account Groups
• Creation of Number Ranges for Vendor Accounts
• Assign Number Ranges to Vendor Account Groups
• Create Vendor Master Record
• Change Vendor Master Record
• Display Vendor Master Record
• Display change made to Vendor Master Record
• Block and UN block Vendor Master Record
• Flag Vendor Master Record for deletion

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Payment

•  Post Outgoing Payment

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 Partial payment

• Posting of The Purchase Invoice
• Posting of Part Payment Made
• Display the Line Items of Vendor
• Post the Remaining Outgoing Part Payment
• Display vendor line items
• Clearing of Part Payments against the Invoice
• Vendor line item Display

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Residual Outgoing Payment

• Post the Purchase invoice
• Post the part payment
• Display Vendor line items

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Down Payment

• Define Reconciliation Account for Vendor Down Payments
• Down Payment
• Invoice
• Clearing

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Clearing Differences

• Create Clearing Difference Accounts for Clearing Differences
• Assign Clearing Difference Account Postings
• Define Tolerance Groups for G/L Accounts
• Define Tolerance Groups for Employees
• Define Tolerance Groups for Vendor/Customer
• Post Vendor Invoice
• Check Vendor Line-Item Display
• Posting Outgoing Payment

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Terms of Payment

•  Maintenance of Terms of Payment
• Post Four Vendor Invoice with Four Payment Terms.
• Installment Payment Terms(FIXED)
• Maintenance of Terms of Payment
• Define Terms of Payment for Installment Payments
• Day Wise Payment Terms
• Maintenance of Terms of Payment
• Cash Discount in Payment Terms
• Creation of G/L Account (Cash discount)
• Assignment of Cash Discount A/c
• Maintenance of Terms of Payment
• Purchase Invoice Posting
• Check Vendor Line-Item
• Outgoing Payment

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 Alternative Reconciliation Configuration

• Create Service Reconciliation Account
• Define Alternative Reconciliation Accounts

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House Bank

• Creation of Bank GL
• Creation of House Bank.
• Assign House Bank and Account ID in GL Master

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SAP-Cheque Configuration

• Creation of Cheque lots
• Purchase invoice posting
• Payment of invoice using Bank Account
• Manual check updating
• Display Check register
• Check encashment date updating
• Unused checks cancellation
• Creation of Void reason
• Issued checks cancellation

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Automatic Payment Program :

• Set up all company codes for payment transactions
• Set up paying company codes for payment transactions
• Set up payment methods per country for payment transactions
• Set up payment methods per company code for payment transactions
• Set up Bank determination for payment transactions
• Schedule Payment program periodically
• Block Invoice in Automatic Payment Program.
• Free Selection in Automatic Payment Program.
• Individual Invoice Payment in Automatic Payment Program.
• Individual and Group Invoice Payment in Automatic Payment Program.
• Invoice Payment Through Multiple House Bank in Automatic Payment Program.
• Cash Discount, Tolerance and Maximum Cash Discount in Automatic Payment Program.

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 Account Receivable

•  Define Account Groups with Screen Layout
• Create Number Ranges for Customer Accounts
• Assign Number Ranges to Customer Account Groups
• Creation of GL master
• Create Customer Master Record
• Posting of sales invoice
• Check Customer Line-Item Display
• Full Incoming Payment Method
• Display Customer Account Balance
• Partial Incoming Payment Method
• Posting of The Sales Invoice
• Posting of Part Payment Received
• Display the Line Items of Customer
• Post the Remaining Incoming Part Payment
• Display customer line items
• Clearing of Part Payments against the Invoice
• Customer line item Display
• Residual Incoming Payment Method
• Post the sales invoice in
• Post the part payment in
• Display customer line items
• Auto Check Deposit
• Define Posting Keys and Posting Rules for Check Deposit
• Define Account
• Assign Account to Account
• Creating Keys for Posting Rules.
• Define Posting Rule.
• Define Variants for Check Deposit and Activate.
• Create and Assign Business Transactions
• Go Transaction Code

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Dunning

• Define Dunning Areas
• Define Dunning Procedures
• Create Dunning Interval in days to Dunning Procedures
• Define Dunning Levels to Dunning Procedures
• Define Dunning Charges to Dunning Procedures
• Define Minimum Amounts to Dunning Procedures
• Assign Dunning Texts and forms to Dunning Procedures
• Assign Dunning Procedures to Customer
• Post Customer Invoice
• Dunning Run

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GST ( Goods and Servicesax )

•  Create Condition Type
• Create Accounting Key
• Create GL for Accounting Key
• Account Determine (Assign GL to Accounting key)
• Define Tax Procedure
• Assign Tax Procedure to Country
• Create Entry- FB60

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GST Compensation Cess

• Create Condition Type
• Create Accounting Key
• Create GL for Accounting Key
• Account Determine (Assign GL to Accounting key)
• Edit in Tax Procedure

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Deductible and Non-Deductible Taxes

• Create Condition Type
• Create Accounting Key
• Create GL for Accounting Key
• Edit in Tax Procedure

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Reverse Charge in GST

• Create Condition Type
• Create Accounting Key
• Edit in Tax Procedure
• Create Tax Codes

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WITHHOLDING TAX(TDS)

• Check Withholding Tax Countries
• Define Official Withholding Tax Keys
• Define Reasons for Exemption
• Check Recipient Types
• Define Business Places
• Define Section Code
• Define Withholding Tax Type for Invoice Posting
• Define Withholding Tax Type for Payment Posting
• Define Withholding Tax Codes
• Assign Withholding Tax Types to Company Codes
• Activate Extended Withholding Tax
• Create GL for Withholding Tax
• Define Accounts for Withholding Tax to be Paid Over
• Update withholding tax codes in the vendor master

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Defining Minimum and Maximum Amounts in Withholding Tax

• Minimum amount
• Maximum amount
• Book the invoice

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Defining Withholding Tax Formulas

•  Define Calculation Types
• Invoice

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Withholding Tax Accumalation

• Define Withholding Tax Type for Invoice Posting .
• Tax Code

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Offsetting in withholding Tax

•  Tax Codes
• Define Accounts for
• Withholding Tax Offsetting entry

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CASH JOURNAL

• Cash Journal
• GL-Creation for Cash Journal.
• Define Document Type.
• Define Number Range for Cash Journal Document.
• Setup Cash Journal.
• Create, Change, Delete Business Transaction.
• Setup Print Parameter for Cash Journal.

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 Bank Reconciliation Statement (BRS)

• House Bank Creation
• Create Three Bank Ledger
• Define Posting Keys and Posting Rules for Bank Statement
• Create Accounts Symbol
• Assign Accounts to Accounts Symbol
• Create Key for Posting Rules
• Define Posting Rules
• Define Variants for Manual Bank Statement
• Create and Assign Business Transactions
• To Run Bank Reconciliation

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Financial Statement Versions in SAP

• Define Financial Statement Versions
• To Check Financial Statement Version

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Foreign Currency Transactions

• Check Exchange Rate Type
• Maintain Translation Ratio
• Maintain Exchange Rate
• Chack
• Enter Document type
• Posting

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Asset Accounting

•  What is asset
• Copy Reference Chart of Depreciation/Depreciation Area
• Assign Input Tax Indicator for Non Taxable Acquisition
• Assign Chart of Depreciation to Company Code
• Specify Account Determination
• Create Screen Layout Rules
• Define Number Range Intervals
• Define Asset Classes
• Creation of GL Accounts
• Assign GL Accounts
• Specify Document Type for Posting of Depriciation
• Define Screen Layout for Asset Master Data
• Define Depriciation Methods
• Maintain Depriciation Key
• Determine Depreciation Areas in the Asset Class
• Asset Master Creation
• Sub Asset Master Creation
• Acquisition/Purchase of Asset
• Asset Transfer
• Retirement of Asset with Customer
• Scrap of Asset
• Depriciation Run

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SAP FI-MM INTEGRATION

• Define Company Code (FI)
• Define Plant
• Define Storage Location
• Define Purchase Organisation
• Define Purchase Group
• Assign Plant to Company Code
• Assign Purchase Organisation to Company Code
• Assign Purchase Organisation to Plant
• Creation of Plant Parameters
• Maintain Company Code for Material Management
• Group Together Valuation Areas
• Set Tolerance Limits for Price Variance(PO)
• GR Tolerance Group
• Parameters for Invoice Verification
• Maintain Plant Parameters for Inventory Management & Physical Inventory
• Default Value of Tax Codes for Invoice Verification
• Maintain AN and ST Tolerance Limit
• Define Attributes for Material Type
• Create Material Master
• Define Vendor Account Group
• Define Number Range.
• Vendor Creation
• GL Creation
• Assignment of Accounts for Automatic Posting(Integration)
• Assign Input and Output GST
• Create Purchase Order
• Display Purchase Order
• Goods Received
• Invoice Verification
• Vendor Payment
• Check Vendor Balance

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SAP FI-SD INTEGRATION

• Define Company Code
• Define Plant
• Define Sales Organisation
• Define Distribution Channel
• Define Sales Office
• Define Sales Group
• Define Division
• Assign Sales Organisation to Company Code
• Assign Distribution Channel to Sales Organisation
• Assign Division to Sales Organisation
• Setup Sales Area
• Assign Sales Office to Sales Area
• Assign Sales Group to Sales Office
• Assign Sales Organisation/Dist. Channel to Plant
• Define Shipping Points
• Define Loading Point
• Assign Shipping Point to Plant
• Shipping Point Determination
• Maintain Plant Parameter
• Define Pricing Procedure
• Determination of Pricing Procedure
• Define Material Type
• Material Master Creation
• Customer Master Creation
• Creation of GL account
• Assign GL in the SD Module
• Assign G/L Accounts Integration of FI – SD
• Sales Order Creation
• Sales Order Display
• Delivery of the Goods Creation
• Delivery Document Display
• Billing Document Creation
• Billing Document Display
• Customer Incoming Payment

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Controlling

• Maintain Controlling area
• Maintain Number Ranges for Controlling Documents
• Maintain Version
• Define Ledger for CO Version

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Cost Element Accounting

• Primary Cost Element
• Secondary Cost Element
• Cost Element Categories
• Manual Creation
• Creation
• Change
• Display
• Automatic Creation

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Cost Center Accounting

•  Define Standered Hierarchy
• Cost Center Categories
• Cost Center
• Cost Center Group
• Create GL

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Create Cost Element

• Create Cost Center
• Post Document
• Reporting

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Profit Center Accounting

•  Set Controlling Area
• Maintain Version
• Maintain Controlling Area Settings for Profit Center
• Create Dummy Profit center
• Set Control Parameters for Actual Data
• Create Profit center master data
• Maintain the Profit center standard hierarchy
• Assign Profit Center in Cost Center
• Maintain number ranges for local document
• Default Profit Center to G/L Accounts

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SAP Internal Orders 

• Statistical Internal Order
• Activate Order Management in Controlling Area
• Define Order Type
• Maintain Number Range
• Create an Internal Order
• Real Internal Order

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•  Live Project

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There aren’t any strict eligibility requirements to take an SAP FICO ECC course. However, there are certain factors that will make you a better candidate and help you grasp the concepts more easily:

• Educational Background: While not mandatory, a degree in a relevant field like:

  • Business Administration (BBA)
  • Master of Business Administration (MBA)
  • Bachelor of Commerce (BCom)
  • Chartered Accountant (CA) (or similar professional qualifications) can provide a strong foundation in accounting principles and financial concepts.

• Experience: Prior experience in finance or accounting can be highly beneficial. This could include:

  • Working in accounts payable/receivable
  • General ledger accounting
  • Financial analysis

• Understanding of Accounting Concepts: Familiarity with core accounting concepts like journal entries, double-entry bookkeeping, and financial statements will be advantageous.

• Basic Computer Skills: Comfort with using computers and navigating software interfaces is essential.

In essence, anyone with an interest in learning SAP FICO ECC can enroll in a training course. However, having a background in finance, accounting, or business will make the learning process smoother and allow you to grasp the financial aspects of SAP FICO more readily.

After completing SAP FICO ECC training, several exciting paths can unfold depending on your career goals and interests. Here are some potential next steps:

1. Pursue a Career in SAP FICO:

• FI/CO Consultant: This is a common career path where you help organizations implement, configure, and customize SAP FICO to meet their specific financial needs.
• FI/CO End-User: You can leverage your knowledge to work within the finance department of an organization using SAP FICO for daily tasks like processing transactions or generating reports.
• FI/CO Project Lead: With experience, you could lead SAP FICO implementation projects within organizations or consulting firms.

2. Further Enhance Your SAP Skills:

• Upgrade to SAP S/4HANA Finance: SAP S/4HANA is the next-generation ERP suite from SAP. Learning SAP S/4HANA Finance allows you to work with the latest advancements in the SAP ecosystem.
• Specialize in Other SAP Modules: Consider expanding your knowledge to other modules like SAP Materials Management (MM) or Sales & Distribution (SD) for a more well-rounded profile.

3. Transition to Other Finance Roles:

• Financial Analyst: The strong financial understanding gained through SAP FICO can be valuable for transitioning to roles like financial analyst, where you analyze financial data and create reports to support strategic decision-making.
• Business Analyst: Your knowledge of business processes and finance can be an asset for business analyst roles, where you bridge the gap between business needs and technical solutions.

4. Pursue Additional Certifications:

• C_FI Certification: Earning the C_FI certification from SAP validates your expertise in SAP FICO configuration and helps you stand out in the job market.
• Other Finance Certifications: Depending on your career aspirations, pursuing certifications like Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA) can further enhance your profile.

The best path for you depends on your individual goals. Consider factors like your interests, experience level, and desired career trajectory. Here are some additional tips:

• Network with other SAP professionals: Connect with people in the SAP community to learn about job opportunities and gain insights into the field.
• Build a strong portfolio: Showcase your SAP FICO skills by working on freelance projects or personal projects to demonstrate your capabilities to potential employers.
• Stay updated on the latest advancements: The technology landscape is constantly evolving. Keep yourself updated on new features in SAP FICO and related technologies.

By following these steps and carefully considering your options, you can leverage your SAP FICO ECC knowledge to build a successful career in finance, IT, or a combination of both.