Basic understanding sap FI sub module

[#1]

Hi Gurus and Experts,

Hope you all are doing well.

Here I came again for some conceptual Clearance for FICO.

Just want to know the basic conceptual clearance about,

What's the specific task need to be performed in AR, AP, GL and Banking as an FI Consultant. If I can get some advice related to same module wise, so it could be helpful to me a lot.

Regards,

Aman Jain

[sanilbhandari · Accepted solution]

Hi Aman

There are multiple tasks in the areas you have mentioned and it could vary depending on the application architecture you may have:

1) AP - Payment processing, reporting on dues, setting payment interfaces, Tax collection and reporting (VAT/GST/With Holding Tax), Asset Receipt against a PO, GR/IR Maintenance

2) AR - Credit management, collections and dispute management, recording payments and direct debits, Ageing reporting, write offs, Dunning, Interest Calculation, Account statements, Balance Confirmation

3) GL - Operational COA, Account assignments, Accounting principles, currency valuation, accruals and deferrals, Country Specific reporting, Financial statements, Group Consolidation,

4) Banking - Automatic Bank Recon, Interbank Transfers, Payment instructions.

These are some of the tasks, which an FI Consultant would be expected to do. This is not an exhaustive list and can vary depending on what components you have and if you have also external interfaces which post data to or receive data from your ERP system

Thanks & Regards

Sanil Bhandari