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SAP FICO Module

How many company codes one can create in SAP and how to define it in SAP

Last Modified on June 25, 2020 by Editorial Staff

Simple questions like ‘how many company codes one can create in SAP ‘may be asked in an interview to test your understanding in SAP. Company Code or CC is used in SAP by almost all sub modules to post financial transactions into SAP. Before answering this question, let us understand why company codes are created in SAP. In SAP, Company code is used to define the smallest … [Read more...] about How many company codes one can create in SAP and how to define it in SAP

How to define Company in SAP and what relationship it has with company codes

Last Modified on June 25, 2020 by Editorial Staff

A company in SAP is formed as an organizational unit for which financial statements are required to be drawn as per the legal requirements of the country. Its defined at client level. This means its assigned below the client level to which all other units are assigned in SAP. Company can be defined in SAP with transaction code OX15 or through following IMG … [Read more...] about How to define Company in SAP and what relationship it has with company codes

Best available SAP books to prepare for interview and to learn SAP FICO

Last Modified on November 5, 2014 by Editorial Staff

Beginners and students preparing for SAP often asked about book that they should refer to become a FICO consultant. Below in this article you will find books that are most relevant in understanding concepts of FICO module and for the preparation of SAP interviews. Here is the list of best SAP books to have a career in FICO. FICO Interview Questions SAP FICO Interview … [Read more...] about Best available SAP books to prepare for interview and to learn SAP FICO

How to become a SAP FICO consultant

Last Modified on July 6, 2020 by Editorial Staff

The FICO module is the most important module of SAP. To become a SAP FICO consultant you are required to give lots of hard work and dedication in learning the process and configuration steps. At the early stage of your career, you should not expect much salary. For the first few years, you should concentrate on learning each part of the SAP FICO module. After a few years of … [Read more...] about How to become a SAP FICO consultant

Why different Posting keys for sub ledgers – Can we create our own posting key

Last Modified on April 16, 2014 by Editorial Staff

Every day more than thousand financial documents are created and posted in sap. To get these transactions posted into sap, we require posting key to make it either a debit entry or credit entry. For recording these transactions, SAP has delivered standard posting keys for use instead of letting you define a new one. Based on the transaction types in sap, these are defined and … [Read more...] about Why different Posting keys for sub ledgers – Can we create our own posting key

How many Posting periods can be kept open at a time in an organization

Last Modified on March 29, 2014 by Editorial Staff

Ledgers and sub ledgers are kept open for posting of your financial transactions into sap. However, to avoid incorrect posting to some other periods or months, SAP has given flexibility of opening and closing posting periods by which we can open and close any month for a relevant year based on our business requirements. You can open as many posting period as you want by … [Read more...] about How many Posting periods can be kept open at a time in an organization

Importance of posting key for a document entry in sap fico

Last Modified on March 29, 2014 by Editorial Staff

Posting keys are defined at the client level and assigned to the company code while entering particular line items into sap. Like in the case of document type, posting key also manage lots of things in sap for a document. In this article we will look into the importance of posting key for a document entry in sap fico. Debit or credit posting Each line item in accounting … [Read more...] about Importance of posting key for a document entry in sap fico

Why document number range is so important for a document posting in Sap

Last Modified on March 29, 2014 by Editorial Staff

In SAP system, at least one document is recorded for every business transaction and such transaction receive a unique number. These document numbers can be assigned by the system or by user while entering a transaction to sap. In certain situations even sap creates more than one document. For example; when goods arrive from a vendor two documents are created. One for material … [Read more...] about Why document number range is so important for a document posting in Sap

Why we have different document types in sap fico

Last Modified on March 29, 2014 by Editorial Staff

Every day, more than thousand transactions are created in a company. These transactions are identified by their categories or document types and stored in sap. Now the question is why these transactions are to be identified with a category or document type. In this article we will be discussing major reasons of having document types in sap fico.  … [Read more...] about Why we have different document types in sap fico

How to clear both vendor and customer open items with each other in sap

Last Modified on March 29, 2014 by Editorial Staff

In a business, you may be required to clear open items related to both customer and vendor with each others. This type of clearing will take place only when vendor and customer of a company are same. For example; it may happen in a business that you are procuring certain raw materials for your finished products and after producing it you are selling certain portion to the same … [Read more...] about How to clear both vendor and customer open items with each other in sap

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