Sub-Modules Of SAP FI:
To begin with, SAP FI itself is a module of the SAP systems. However, it is further categorized into a few sub-modules based on the activities they perform. Given below are some of the significant sub-modules of this software.
- General Ledger (FI-GL)- This sub-module is responsible for maintaining the balance sheet statement & profit & loss accounting. In addition, general ledger accounting is helpful in recording all business-related transactions in the SAP system. After that, it posts the entered data into GL & SAP CO systems. Above all, it ensures that accounting is always conducted accurately and precisely.
- Accounts Payable (FI- AP)- Accounts Payable is responsible for maintaining & managing the seller’s tractions. Moreover, it manages the invoices and deliveries according to the retailer’s request. In addition, creating a payment program allows time to time payment to vendors. Accounts Payable updates the postings made in it to General Ledger.
- Accounts Receivable (FI-AR)- This account manages customers’ transaction activities. In addition, creating Dunning Program allows a user to manage credit functionalities effectively. Moreover, it acts as an integral sales management part and it includes a vast amount of monitoring tools such as account analyses, alarm reports. Etc. Above all, it is capable of direct debiting and down-payments automatically.
- Bank Accounting (FI-BA)- It manages transactions related to bank transactions. Above all, it manages the cash flow of a business and can integrate with various other SAP FI sub-modules. Above all, it is beneficial for a business as it allows it to have sufficient liquidity to cover its payment obligations.
Other Sub-Modules
- Asset Accounting (FI-AA)- All the data from the activities related to the fixed assets are managed under this sub-module. Above all, it results in providing a report of depreciation forecasting and simulation. In addition, it interacts with other sub-modules and manages all the activities from purchasing an asset to its sales. In addition, this sub-module has special functions that can manage activities related to leased assets and assets under construction.
- Travel Management (FI-TM)- SAP-TM is responsible for managing the activities related to official organizational trips. Moreover, it allows the management of travel requests, travel planning, and travel expenses. Above all, it further integrates this data with other sub-modules and results in the management of a company’s travels in a cost-effective manner.
Features Of SAP FI:
To begin with, SAP FI helps in preparing operational information that results in making effective decisions in a company. Given below are some of the significant features of SAP-FI.
- Records Transactions- It is capable of recording every official business transaction from financial statements to documents.
- Generate Posting- It automatically generates posting in the general ledger account whenever a posting is made in any sub-ledger account.
- Real-Time Data- As SAP FI provides data in real-time, it allows access to financial accounting throughout the organization.
- Financial Accounting Posting- This module of SAP allows the posting of all the processed transactions on the financial accounting module. Above all, it ensures that goods & services are reflected in financial accounting according to their value.
Components Of SAP FI:
SAP FI is one of the most used and popular modules in the SAP systems. Above all, it has worldwide uses as it plays a very important role in managing the financial transactions of a company. In addition, it is useful in knowing the financial condition of a company and has various components.
- Fixed asset
- Accrual
- Cash journal
- Accounts receivable and payable
- Inventory
- Tax accounting
- General ledger
- Fast close functions
- Financial statements
- Parallel valuations
- Master data governance
Conclusion:
SAP FI stands for SAP financial accounting and it has a few sub-components and abundant features. Talking about the career opportunity, this is one of the best courses one can choose. In conclusion, one can enroll in SAP FI Online Training in India to learn about the functioning of this software. It is a worldwide used software as no organization can perform without a financial department.
