Introduction:
To begin with, SAP FI stands for Financial Accounting and it helps in storing the financial data of an organization. In addition, it is also capable of analyzing a company's financial health.
Modules Of SAP FI:
· Accounts receivables- Account Receivable in SAP FI is responsible for handling all the customer-related transactions. In addition, it manages and maintains separate customer accounts and updates the general ledger whenever any postings are made in it.
· Accounts payables- It manages all the transactions with vendors along with vendors' accounts. In addition, it maintains a separate vendor account when it posts transactions in customer accounts. Invoice posting, credit memo posting, down payments, invoice payment, are some of its transactions.
· Consolidations- It helps a company by combining financial statements for multiple entities. Thus, providing a report about the financial health of the company. In addition], many institutions provide SAP FI Course in Noida and one can visit them to learn its functionalities.
· Funds Management- Fund management helps in managing the reserve of a company by setting a budget for revenue and expenses and tracking them to the area of responsibility.
· General Ledger- It is one of the most necessary modules in SAP FI. In addition, it integrates will all the submodules of SAP FI and all postings are made within it in real-time.
· Travel Management- This sub-module manages all the transactions related to the official business tours and travels of a company. It also allows the creation of expense reports along with the transfer of expense results.
· Asset accounting- Asset accounting handles all the transactions related to the assets of an organization. In addition, it updates the reconciliation accounts in the general ledger whenever any transactions are posted in assets accounts. It includes asset acquisition, asset retirement, asset sale, asset transfer, asset revaluation.
· Bank accounting- Bank Accounting submodule deals with bank-related transactions. In addition, it records the bank statements and
companies them to the transactions in the system.
Features Of SAP FI:
SAP FI helps in recording all transactions from documents to financial statements related to business activities. It consists of various sub-modules and postings made in each of the sub-modules are displayed in General Ledger accounts. In addition, it creates an operational report for better decision-making within a company. There are many SAP FI Training Institute in Gurgaon that provide career-related courses in it. Given below are the features of SAP FI.
· Parallel Accounting
· Document Splitting
· Single Reconciled Database
· Real-Time Reconciliation and Integration
· Transparency
