SAP FICO in S/4HANA: A Step into the Future of Finance

The world of enterprise software is constantly evolving, and SAP is no exception. As businesses strive for greater efficiency and real-time insights, SAP S/4HANA has emerged as the next generation of the SAP ERP suite. Within this suite, SAP FICO takes a central role, offering a modernized approach to financial management.

What is SAP S/4HANA FICO?

While SAP FICO ECC (Enterprise Central Component) has long been the industry standard for financial management, SAP S/4HANA FICO builds upon this foundation. It leverages the power of the in-memory HANA database to deliver a next-level experience:

• Real-time Processing: Financial data is processed and analyzed in real-time, providing instant insights into your organization’s financial health.
• Simplified Data Model: The data model in S/4HANA FICO is streamlined, reducing complexity and improving data consistency.
• Enhanced User Experience: The user interface is modernized and intuitive, making it easier to navigate and perform financial tasks.
• Greater Integration: S/4HANA FICO integrates seamlessly with other S/4HANA modules, fostering a more unified data environment.

Benefits of SAP S/4HANA FICO:

• Improved Efficiency: Real-time processing and a simplified data model translate to faster financial operations and reduced processing time.
• Enhanced Decision-Making: Access to real-time financial data empowers better-informed business decisions based on accurate and up-to-date insights.
• Increased Transparency: A unified data environment throughout S/4HANA provides greater transparency across the organization.
• Reduced Total Cost of Ownership (TCO): The simplified architecture and improved efficiency can potentially lead to lower IT infrastructure costs.

Who Should Consider SAP S/4HANA FICO?

• Organizations Already Using SAP FICO ECC: Migrating to S/4HANA FICO allows you to leverage your existing knowledge while unlocking the benefits of the next-generation platform.
• Businesses Seeking Real-Time Financial Insights: If real-time data and faster financial processes are crucial for your organization, S/4HANA FICO offers a significant advantage.
• Companies Looking to Modernize Their Finance Function: S/4HANA FICO provides a modern and streamlined approach to financial management, making it ideal for organizations seeking to future-proof their systems.

Getting Started with SAP S/4HANA FICO:

• Upskilling for Existing SAP FICO Professionals: Training courses are available to help SAP FICO ECC users transition to S/4HANA FICO and understand the new functionalities.
• Implementation Planning: Organizations considering S/4HANA FICO should carefully plan the migration process to ensure a smooth transition.

In conclusion, SAP S/4HANA FICO represents a significant leap forward in financial management. With its real-time capabilities, simplified data model, and modern user experience, it empowers businesses to make data-driven decisions, improve efficiency, and gain a competitive edge.

SAP FICO S4HANA:

Introduction to FICO Module ( S4HANA)

What is ERP?

 ERP Advantages

 ERP Packages

 SAP Implementation Overview

 SAP – Project Lifecycle

 What is S4HANA

 What is difference Between Ecc & S4 HANA

 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
• BP Master & Link to Vendor Master
• Define Number Ranges
• Define Groupings and Assign Number Ranges
• Define Number Assignment for Direction BP to Vendor
• 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
• Creation of GL master
• Create Vendor Master Record
• Posting of Purchase invoice
• Check Customer Line-Item Display

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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
• Reset Cleared Invoice

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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
• BP Master & Link to Customer Master
• Define Number Ranges
• Define Groupings and Assign Number Ranges
• Define Number Assignment for Direction BP to Vendor
• 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 Service sax ):

• 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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There aren’t strict eligibility requirements for enrolling in SAP S/4HANA FICO training. However, to get the most out of the training and potentially pursue a career using this advanced system, here are some factors that will make you a strong candidate:

Prior SAP FICO Experience: An ideal candidate would have a solid foundation in SAP FICO ECC. This knowledge provides a springboard for understanding the changes and advancements introduced in S/4HANA FICO.

Courses are available specifically designed for those transitioning from SAP FICO ECC to S/4HANA FICO, focusing on the new features and functionalities.

• Understanding of Accounting Concepts: Familiarity with core accounting principles like journal entries, double-entry bookkeeping, and financial statements remains essential.

• Basic Computer Skills: Comfort with navigating software interfaces and some experience with database concepts would be beneficial.

Here’s a breakdown of some individuals who might be a good fit for SAP S/4HANA FICO training:

• SAP FICO ECC Professionals: Those with existing experience in SAP FICO ECC can significantly enhance their skillset by learning S/4HANA FICO and staying relevant in the evolving SAP landscape.
• Finance Professionals: Finance professionals seeking to upskill and gain expertise in the latest financial management technology can benefit from this training.
• Individuals Transitioning to SAP Careers: Those with a background in finance or accounting and an interest in SAP can leverage S/4HANA FICO training to enter the SAP ecosystem.

Additional Considerations:

• Training Providers: Some training providers might have their own prerequisites or recommend a certain level of experience before enrolling in S/4HANA FICO courses.
• Career Aspirations: Consider your career goals. If you aim for a role involving configuration or development within S/4HANA FICO, additional training or certifications might be necessary.

Overall, SAP S/4HANA FICO training is valuable for anyone with a foundation in accounting and SAP FICO ECC, or those seeking to enter the SAP finance domain. By building your knowledge in this next-generation financial management system, you position yourself for exciting career opportunities in the digital age.

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.