Last Updated on August 5, 2022 by admin
SAP FICO Basics
1. Organizational Elements
2. Variant Principle
3. GL Master Data and Account Groups
4. Accounts Payable
5. Accounts Receivable
6. Controlling
7. FI-SD Integration
8. FI-MM Integration
1. Organizational Elements:- Organizational Elements SAP FI
- Company Code
- Business Area
- Chart of Account
- Functional Area
Company code in SAP:-
Company code is the Smallest Organization unit for which independent financial statements can be carried out. Balance sheets and profit & loss statements can be created at the company code level as required by law. Business transactions are processed at each company code level.
Business Area in SAP:-
A business area is a separate area of operations or responsibilities of organizational units within a company code and used for internal and external reporting. Different divisions of each business within a legal entity are created as Business areas for reporting of each operational area.
Chart of Accounts in SAP:-
The chart of accounts ( COA ) is a list of GL accounts master records that are used by the organization. A chart of accounts must be assigned to each company code.
Types of Chart of Accounts:-
- Operating chart of Accounts
- Country-Specific chart of Accounts
- Group Chart of Accounts
Operating chart of accounts:-
Country Specific Chart of Accounts
Group Chart of Accounts:-
Functional Area
A functional area is an organizational unit in accounting that classifies the expenses of an organization by functions. The functional area is used to create P&L A/C in Financial Accounting using the cost of sales accounting. e.g. of functional areas are
- Administration
- sales and distribution
- Manufacture
- Production
- Research and development.