{"id":86,"date":"2016-10-02T18:54:08","date_gmt":"2016-10-02T18:54:08","guid":{"rendered":"https:\/\/blogs.scu.edu\/erpsystems\/?p=86"},"modified":"2016-10-02T18:54:08","modified_gmt":"2016-10-02T18:54:08","slug":"sap-fico-and-its-benefits","status":"publish","type":"post","link":"https:\/\/blogs.scu.edu\/erpsystems\/2016\/10\/02\/sap-fico-and-its-benefits\/","title":{"rendered":"SAP FICO and its benefits"},"content":{"rendered":"<p>My first encounter with accounting occurred in my first quarter at Santa Clara University.It was a completely new area for me and my interest in the financial world grew by leaps and bounds with each passing lecture.Recently I had another chance of exploring the link between ERP ,and Financial accounting and it was very staggering to find how the latter supports ERP systems.<\/p>\n<p>SAP ERP&#8217;s Finance and Accounting solution smooth-ens the operations related to finance for any organization.It coalesces and automates the important accounting and financial procedures,hence un-complicating the process of managing resources,expenditures and financial reporting documents. ERP binds the processes spread across different functional areas to give a unique version of the financial information to everyone.SAP ERP&#8217;s finance solution,also allows anyone to have a real-time understanding of the company&#8217;s financial health.It also helps to reduce costs by providing a common platform for customers or suppliers to interact.SAP FICO ( FI denotes Financial Accounting and CO denotes Controlling ) acts as a repository for the data of the financial transactions.<\/p>\n<p>I hope to learn more about the different aspects of SAP\u00a0FICO\u00a0modules along with their correlation to other business process.Here is my attempt to represent different SAP FI modules in a diagram.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-90 aligncenter\" src=\"https:\/\/blogs.scu.edu\/erpsystems\/files\/2016\/10\/SAP-F1-different-modules-2-300x249.png\" alt=\"sap-f1-different-modules\" width=\"300\" height=\"249\" srcset=\"https:\/\/blogs.scu.edu\/erpsystems\/files\/2016\/10\/SAP-F1-different-modules-2-300x249.png 300w, https:\/\/blogs.scu.edu\/erpsystems\/files\/2016\/10\/SAP-F1-different-modules-2-768x637.png 768w, https:\/\/blogs.scu.edu\/erpsystems\/files\/2016\/10\/SAP-F1-different-modules-2-1024x849.png 1024w, https:\/\/blogs.scu.edu\/erpsystems\/files\/2016\/10\/SAP-F1-different-modules-2.png 1672w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>My first encounter with accounting occurred in my first quarter at Santa Clara University.It was a completely new area for me and my interest in the financial world grew by leaps and bounds with each passing lecture.Recently I had another chance of exploring the link between ERP ,and Financial accounting and it was very staggering &hellip; <a href=\"https:\/\/blogs.scu.edu\/erpsystems\/2016\/10\/02\/sap-fico-and-its-benefits\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">SAP FICO and its benefits<\/span><\/a><\/p>\n","protected":false},"author":1681,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-86","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"gutentor_comment":0,"qubely_featured_image_url":null,"qubely_author":{"display_name":"mon","author_link":"https:\/\/blogs.scu.edu\/erpsystems\/author\/sonam\/"},"qubely_comment":0,"qubely_category":"<a href=\"https:\/\/blogs.scu.edu\/erpsystems\/category\/uncategorized\/\" rel=\"category tag\">Uncategorized<\/a>","qubely_excerpt":"My first encounter with accounting occurred in my first quarter at Santa Clara University.It was a completely new area for me and my interest in the financial world grew by leaps and bounds with each passing lecture.Recently I had another chance of exploring the link between ERP ,and Financial accounting and it was very staggering&hellip;","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/erpsystems\/wp-json\/wp\/v2\/posts\/86","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.scu.edu\/erpsystems\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.scu.edu\/erpsystems\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/erpsystems\/wp-json\/wp\/v2\/users\/1681"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/erpsystems\/wp-json\/wp\/v2\/comments?post=86"}],"version-history":[{"count":1,"href":"https:\/\/blogs.scu.edu\/erpsystems\/wp-json\/wp\/v2\/posts\/86\/revisions"}],"predecessor-version":[{"id":91,"href":"https:\/\/blogs.scu.edu\/erpsystems\/wp-json\/wp\/v2\/posts\/86\/revisions\/91"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/erpsystems\/wp-json\/wp\/v2\/media?parent=86"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/erpsystems\/wp-json\/wp\/v2\/categories?post=86"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/erpsystems\/wp-json\/wp\/v2\/tags?post=86"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}