Financial Accounting with SAP FICO

Financial Accounting is the core area of SAP ERP. This deals with reporting the financial transactions regarding the business as per the external requirement. Financial Accounting is integrated with SAP to provide comprehensive functions for a business. Let’s see what these sub modules are which help in deciding the financial status of an organisation:

General Ledger: It is the book of transactions in which one may record the daily financial transactions. This acts as a picture for the external accounting entity.

1. Accounts Payable: It records monetary data for all the vendors.
2. Accounts Receivable: It records monetary data for all the customers.
3. Bank Accounting: It involves management of the data of the bank through cash management, master data management and creating and processing incoming and outgoing payments. You may also define various country specific payments like data media, payment forms and procedures for electronic and manual payment.
4. Asset Accounting: It is widely used to manage fixed assets.
5. Fund Management: It helps to support budget. It budgets all the expenditures and the revenues for individual areas.
6. Travel Management: This involves management and handling of all the trips. The main areas are payment and taxation. This also includes booking of the trips and settling travel expenses.
7. Special Purpose Ledger: is used in special reporting areas and purposes.

Hence SAP FICO is currently developing in the market and it’s a great career option. Various companies are using this tool and showing support to this tool. At ZaranTech exclusive SAP FICO training is provided. We also offer 24*7 technical support and access to the learning materials. This initiative has been taken to bridge the industry gap between the student and the market. Over the years, ZaranTech has provided numerous trainings on recent areas of development. The course curriculum includes assignments, live sessions, quizzes, case studies, practical demo session. Hence the student gets acquainted with the tool and its application.

Conclusion

SAP Certification plays a major function in developing your specialist knowledge in the global market. An SAP certification validates your capability to use SAP systems for managing substantial databases of a company and expert abilities on SAP reporting.

If you are planning to boost your skills, choose our best online training platform, and learn from industry experts. So what are you waiting for? Visit ZaranTech, to skyrocket your career with the unique learning needs because Learning Never Exhausts The Mind.

These are the related articles that you can check

1. What are the prerequisites for a newcomer to get SAP FICO Job?
2. SAP FICO – A Brief Introduction and Outline – Ebook
3. Our trainer Sagar for SAP FICO was recently invited as a Guest Speaker for SAP User Group at University of Texas, Dallas, School of Management this past Wednesday