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 … Read More » "Best available SAP books to prepare for interview and to learn SAP FICO"
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 your early stage of career, you should not expect much salary. For first few years you should concentrate on learning each … Read More » "How to become a SAP FICO consultant"
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 … Read More » "Why different Posting keys for sub ledgers – Can we create our own posting key"
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 … Read More » "How many Posting periods can be kept open at a time in an organization"
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 … Read More » "Importance of posting key for a document entry in sap fico"
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 … Read More » "Why document number range is so important for a document posting in Sap"
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 … Read More » "Why we have different document types in sap fico"
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 … Read More » "How to clear both vendor and customer open items with each other in sap"
Line item display is set for those accounts which are specifically required to display both side of a transaction in its report display i.e. debit and credit side of a transaction. When you post a transaction to gl account which has been set to line item display in its ledger master, system will store it … Read More » "Why line item display is not set for reconciliation account – Sap Fico"
Alternative payee is the party to whom you will be making payments on behalf of the original vendor. Alternative payee is a vendor who is recognized as having a right to access to receive some or all the benefits on behalf of the original vendor. Address of the alternative payee will be used for sending … Read More » "What is alternative payee or payer in sap fico"