What Actually is the Financial Area in SAP FICO? 

FM is a part of the Financial Accounting Organizational unit which is responsible for all the financial activities in an organization. Professionals and experts are able to perform several tasks simultaneously such as maintaining ledgers, balancing balance sheets, checking profit and loss statements, and many more. All these can be maintained by SAP ERP solutions. Not only this, but the SAP FICO also contributes to asset management. Organizations are able to achieve their organizational goals with effective and efficient implementation of SAP FICO. They are able to do so as companies are able to reduce their expenses and are able to save extra costs. By performing financial tasks professionally and efficiently, organizations are able to achieve their objectives in a short period of time. 

Components of SAP FICO Module

SAP FICO Module covers various aspects related to finance, accounting, management, and controlling. However, one of the most important aspects is Financial Management as it is the backbone of almost every enterprise. If you are interested in knowing all the different aspects of this module, then you can enroll for SAP FICO Training in Delhi from a reputed institute.

Till then you can have a look at the below components : 

• SAP General Ledger: All external accounts of an organization can be maintained under SAP. Along with it, one can easily record business transactions without much headache. 
• SAP Accounts Payable and Receivable: It’s crucial for professionals to maintain data and components from both vendors and customers. They can manage different accounts effectively with the help of the SAP FICO module. 
• SAP Asset Management: Managing fixed assets in an organization is a challenging task and one can do it easily with the implementation of an ERP system. 
• SAP Bank Accounting: SAP FICO module is also used for managing cash balances to process payments, managing bank master data, and many more. 
• SAP Funds Management: In this component, all tasks related to funds are controlled such as calculating revenues and expenditures of the organization, managing funds, and all related tasks. 
• SAP Travel Management: Under this module, companies look after appraisals, office trip bookings, settlements, and all the other expenses of the organization. 

Conclusion 

In this blog, we have tried our best to explain the concept of financial management in the SAP Finance and Controlling module. As it helps professionals in numerous ways and simplifies their several tasks, that’s why enrolling in the SAP FICO Online Training will be the best decision for you. The team of ShapeMySkills.Pvt Ltd always motivates learners to complete such professional courses to grab excellent Career Opportunities for SAP FICO Consultants and aspiring candidates. During your training session, you will get both theoretical and practical knowledge with the support of industrial experts. So, what are you waiting for? If you are looking forward to a change in your job profile or looking for better career options, then SAP FICO is the right fit for you.