SAP FI Module - Introduction

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By: hasee (102 month(s) ago)


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SAP FI Module - Introduction : 

SAP FI Module - Introduction The SAP FI Module has the capability of meeting all the accounting and financial needs of an organization. It is within this module that Financial Managers as well as other Managers within your business can review the financial position of the Company in real time as compared to legacy systems which often times require overnight updates before financial statements can be generated and run for management review.

Functionality of SAP Module : 

Functionality of SAP Module The real time functionality of the SAP modules allow for better decision making and strategic planning. The FI (Financial Accounting) Module integrates with other SAP Modules such as MM(Materials Management), PP(Production Planning), SD(Sales and Distribution), PM(Plant Maintenance), and PS(Project Systems). 2

The FI Module Components : 

The FI Module Components The FI Module comprises several sub-modules as follows:- Accounts Receivable Accounts Payable Asset Accounting Bank Accounting Consolidation Funds Management General Ledger Special Purpose Ledger Travel Management 3

Accounts Receivable : 

Accounts Receivable Accounts Receivables records all account postings generated as a result of Customer Sales activity. These Postings are automatically updated in the General Ledger. It is within the Accounts. Receivables Module that you can monitor ageing of the receivables and generate customer analysis. This Module also integrates with the General Ledger, Sales and Distribution and Cash Management Modules. 4

Accounts Payable : 

Accounts Payable Accounts Payable Module records account postings generated as a result of Vendor Purchasing Activity. Automatic postings are generated in the General Ledger as well. Payment Programs within SAP enables the payment of payable documents by check, EDI, or transfers. 5

Asset Accounting : 

Asset Accounting Asset Accounting is utilized for managing your Company`s Fixed Assets. SAP allows you to categorize assets and to set values for depreciation calculations in each asset class. 6

Bank Accounting : 

Bank Accounting Bank Accounting allows for management of bank transactions in the system including cash management. 7

Consolidation : 

Consolidation Consolidation enables the combining of financial statements for multiple entities within an organization. These statements provide an overview of the financial position of the company as a whole. 8

Funds Management : 

Funds Management Funds Management allows management to set budgets for revenues and expenses within your company as well as track these to the area of responsibility. 9

General Ledger : 

General Ledger General Ledger is fully integrated with the other SAP Modules. It is within the General Ledger that all accounting postings are recorded. These postings are displayed in real-time providing up-to-date visibility of the financial accounts. 10

Special Purpose Ledger : 

Special Purpose Ledger Special Purpose Ledger is used to define ledgers for reporting purposes. Data can be gathered from internal and external applications. 11

Travel Management : 

Travel Management Travel Management provides management of all travel activities including booking trips and handling of expenses associated with travel. 12

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