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    Learn SAP FICO in 24 Hours
    Learn SAP FICO in 24 Hours
    Learn SAP FICO in 24 Hours
    Ebook317 pages45 minutes

    Learn SAP FICO in 24 Hours

    By Nordeen Alex

    5/5

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    About this ebook

    Real-time financial information helps the organization to take important decisions. SAP FICO is a complete financial management ERP solution that integrates the accounting side of business. Most SAP consultants find difficult how and what part of the business process they should bring under SAP FICO. This e-book can actually act as a demo for them, where they will learn to integrate the important business module into SAP FICO.


    This e-book is intentionally prepared small to keep it simple and straight to the point. The book did not miss on any of the SAP FICO topics like Accounts Payable, Accounts Receivables, Bank Accounting, General Ledger, Asset Accounting, and so on. The book has given a practical example and explained them step by step. The example teaches you each SAP FICO module in detail including how their transaction code works.


    Not only SAP consultant but any beginners will be benefited with this book. Where company demands experienced SAP consultant to handle their finance, this book could be a first handon experience for SAP aspirant. This e-book has also given a referral to some basic accounting concept and terminologies to help beginners.


    Where online training or courses charges you the hefty amount for teaching you the same, and no guaranteed returns. This book can help you to reduce that cost. This e-book is an ultimate guide to learn SAP FICO.


    Table Content


    Chapter 1: Organizational Structure


    Create Financial Statement Version


    How to perform a Journal Entry Posting


    Chapter 2: General Ledger


    Fiscal Year Variant


    Assign Company Code To Fiscal Year Variant


    Define Posting Period Variant


    Opening And Closing Posting Periods


    Define Field Status Variant And Field Status Group


    Assign Field Status Variant To Company Code


    Document Type And Number Ranges


    Post With Reference


    Hold Document


    Park Document


    Chapter 3: Accounts Receivable


    Create a Customer Master Data


    Change Customer Documents


    How to Display Changes in Customer Master


    How to Block or Delete a Customer


    Create Customer Account Group


    One Time Customer


    How to post a Sales Invoice


    Document Reversal


    Sales Returns – Credit Memo


    How to Post Incoming Payment


    How to post a Foreign Currency Invoice


    Incoming Partial Payments By Residual Method


    Incoming Partial Payments By Partial Payment Method


    How to Reset AR Cleared Items


    Credit Control for the Customer


    Chapter 4: Accounts Payable


    How to Create a Vendor


    How to Create a Vendor Account Group


    How to Display Changes in Vendor Master


    How to Block or Delete a Vendor


    Create Vendor Master Data


    One Time Vendor


    Purchase Invoice Posting


    Purchases Returns – Credit Memo


    Outgoing Payments


    Foreign Currency Vendor Invoice


    How to Post Withholding Tax During Vendor Invoice Posting


    How to Post Withholding Tax During Payment Posting


    Outgoing Partial Payments By Residual Method


    Outgoing Partial Payments By Partial Payment Method


    Reset AP Cleared Items


    Automatic Payment Run


    How to Map Symbolic Account to G/L Account


    Posting Rounding Differences


    Chapter 5: Important Stuff


    Important Reports in SAP FI


    Month End Closing – Foreign Currency Revaluation


    How to Maintain Exchange Rates


    Accounts Receivable and A

    LanguageEnglish
    PublisherPublishdrive
    Release dateOct 31, 2021
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      Book preview

      Learn SAP FICO in 24 Hours - Nordeen Alex

      Chapter 1: Organizational Structure

      Create Financial Statement Version

      This tutorial takes you through the steps to create a Financial Statement Version   Enter Transaction code SPRO in the command field

      How to create Financial Statement Version (FSV)

      In the next screen Select SAP reference IMG

      How to create Financial Statement Version (FSV)

      In next screen-Display IMG  navigate the following menu path SAP Customizing Implementation Guide -> Financial Accounting -> General Ledger Accounting -> Business Transactions -> Closing -> Document -> Define Financial Statement Versions

      How to create Financial Statement Version (FSV)

       In the Next Screen, Select New Entries

      How to create Financial Statement Version (FSV)

       In the Next Screen, Enter the Following

      Enter the FSV Key

      Enter the Description for the purpose of the FSV

      Enter the  language key designates the language in which you Display texts,Enter texts and Print documents.

      Enter this indicator which specifies whether keys of f.s items are assigned manually or automatically when the financial statement versions are defined.

      If we specify a COAhere, only accounts from this chart of accounts can be assigned when you are defining the financial statement. If you do not specify a chart of accounts, accounts from several charts of accounts can be assigned when you define the financial statement.

      Enter this Indicator that specifies that the group account numbers should be assigned instead of the account numbers when you define the financial statement version.

      Enter this indicator as it makes possible to assign functional areas or accounts in the financial statement version.

      How to create Financial Statement Version (FSV)

      After maintaining the fields , press save  How to create Financial Statement Version (FSV)    Enter your change request number

      How to create Financial Statement Version (FSV)

      After the Financial Statement Version is saved you can edit its structure items by selecting Financial statement items button

      In the next screen, you can maintain nodes in version object A new version has  seven basic nodes by default, listed below

      Financial Statement Notes

      Not Assigned

      P+L result

      Net result : loss

      Net result : profit

      Liabilities+Equity

      Assets

      How to create Financial Statement Version (FSV)

      We can maintain node text by double clicking on the node . We can create subitems to the node by selecting the node and pressing the create items button  How to create Financial Statement Version (FSV)  New item will be created as subnode to the selected node. We can assign accounts or group of Accounts to  a node by selecting the node and pressing Assign Accounts .  Below is an example of such an assignment.

      Primary  Node Assets

      Subnode Cash & Cash Equivalents are assigned to Assets . Petty cash is a subnode assigned to Cash & Cash equivalents.Other nodes are also assigned to Cash & Cash Equivalents such as : Checking,Citibank Account, Mellon Bank,Citibank Canada

      Chart of Account key used for assigning accounts

      Range of accounts assigned to node Petty Cash

      Range of Accounts

      After Maintaining the structure press Save   How to create Financial Statement Version (FSV)  and we have successfully created a Financial Statement Version.

      How to perform a Journal Entry Posting

      This tutorial will take you through the steps involved in Posting a Journal Entry

      We will take a sample business transaction for the posting.

      Post General Ledger 5000 units of local currency are drawn from the house bank account in cash and put into petty cash.

      Enter the transaction code FB50

      How to perform a Journal Entry Posting in SAP

      In the next screen, Enter the document date in header part

      Next select button Company Code

      How to perform a Journal Entry Posting in SAP

      Enter the Company Code for the Transaction

      How to perform a Journal Entry Posting in SAP

      In the Item details part , Enter the following

      Enter Cash Account to be Debit

      Select  Debit

      Enter Amount to be debited

      Enter Bank account to be Credited

      Select Credit

      Enter Amount to be Credited

      Now check the status of the Document in Amount Information section

      How to perform a Journal Entry Posting in SAP

      In the Status Bar Document number is generated which confirms Document Posting.

      How to perform a Journal Entry Posting in SAP

      Chapter 2: General Ledger

      Fiscal Year Variant

      Enter the Transaction code SPRO in the SAP Command Field and Press Enter

      How to Create a Fiscal Year Variant

      In the next screen Select SAP reference IMG

      How to Create a Fiscal Year Variant

      In next screen-Display IMG navigate the following menu path :

      SAP Customizing Implementation Guide Financial Accounting -> Financial Accounting Global Settings->Fiscal Years -> Maintain Fiscal Year Variant (Maintain Shortened Fiscal Year )

      How to Create a Fiscal Year Variant

      In the next screen, Select New Entries from the Application Toolbar

      How to Create a Fiscal Year Variant

      In the next screen , Enter the following Data

      Enter two digit unique fiscal year variant key

      Enter a Description for Variant created.

      If Fiscal Year is year dependent , that is if start and end dates for fiscal year changes between year, then select this option, normally it is used for shortened fiscal year.

      If Fiscal Year is same as calendar year , that is Jan - Dec , then select this option.

      Enter

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