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Lesson Posted on 20/08/2020 IT Courses/SAP/SAP FICO

SAP FICO Training Videos for Beginners

GuruTara Institute

I am SAP Online Trainer and working on Sap since 2004. Trained more than 3000+trainees. Having...

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Answered on 09/03/2020 IT Courses/SAP/SAP FICO

Ramesh KN

PowerBI&AWS Certified Corporate Trainer 25+ years Experience, Excel,Powerpoint,VBA,Office365,PowerBI

Hi Eswar, Its always good to be in the finance or insurance domain since you have rich experience in that FICO is a good option, try for a certificatio in that if possible, as that adds to lot of value
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Lesson Posted on 05/12/2019 IT Courses/SAP/SAP FICO

Electronic Bank Statement in SAP

Vinod Kumar

Having around 16 years of experience with expertise in sap FI, CO, S/4 HANA, SD and MM and working in...

Electronic Bank Statement in SAP Medium to large scale businesses do thousands of transactions each day. Lot of these transactions are banking related. Reconciling bank balances with book balances manually is not possible. Uploading manual bank statement in ERP system is a time consuming affair and... read more

Electronic Bank Statement in SAP

Medium to large scale businesses do thousands of transactions each day. Lot of these transactions are banking related. Reconciling bank balances with book balances manually is not possible.

Uploading manual bank statement in ERP system is a time consuming affair and prone to clerical errors due to manual intervention. Treasury staff in an organisation may end up spending lot of time usually at the end of month for reconciliation.

Electronic bank statement feature provided by SAP can save a lot of time and is error free. SAP will upload the file which is sent (FTP) by bank. Based upon SAP configurations financial postings will be done. This configuration will upload the statement automatically and at the same time will do the bank sub ledger postings and clearing postings.

 

Prerequisites

 

Following are the basic requirements for setting up EBS in SAP:

 

  • House Bank
  • Bank file in specified format
  • SAP Configurations for EBS
  • Set up connection between SAP and bank for file transfer mostly secured (sFTP)
  • SAP automated batch set up

SAP Configuration of electronic bank statement(EBS)

 

Financial Accounting –> Bank Accounting –> Business Transaction –> Payment Transactions –> Electronic bank statement

EBS is done at Chart of Account Level

1. Account symbol creation – Account symbols are specifications for general ledger accounts. These are posted with each possible transaction contained in bank statement.

2. Assign accounts to account symbol – GL accounts are mapped to account symbols in this step.

3. Create keys for posting rule – Description for the necessary posting rules is entered in this step. Each posting rule represents a business transaction.

 

4. Define posting rules – In this activity posting specifications for each posting rule is created. You specify how a certain business transaction is to be posted with which posting key, document type and posting type. 

5. Create transaction type – Transaction type contains the external transaction type. External transaction types are codes used by banks to specify the business transaction in bank file. Transaction types in turn  are link between External Transaction Types, Posting Rules and Interpretation Algorithms. Interpretation algorithm interprets the note to payee line in bank statement and accordingly clears the open items accordingly.

6. Assign bank account to transaction types – Last step involved is assigning bank accounts with transaction types as defined above. This step contains the list of external transaction which are valid for a house bank. Please note that assignment is of Bank account number and Bank Routing Number and not of GL account in this step.

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Answered on 30/08/2019 IT Courses/SAP/SAP FICO

Sivalenka

SAP Professional Trainer

Hi Akash,For sure FICO will be a nice option to enter into ERP market as SAP is a market leader in that arena, try to get some practical Accounting exposure on Accounts Payable side also, extend your learning on A/R G/L and Asset accounting which will help you.
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Answered on 24/07/2018 IT Courses/SAP/SAP FICO

Fortune Trainings

Hi Hema, Hope you are doing great.. If you can spend onr hour time for the online live demo session, definitely you will get the clarity. Our SAP FICO Real Time Global Certified Professionals will give you the best suggestions for your career. Once yoou like the way of training and explaination, you... read more

Hi Hema,

Hope you are doing great..

If you can spend onr hour time for the online live demo session, definitely you will get the clarity. Our SAP FICO  Real Time Global Certified Professionals will give you the best suggestions for your career. Once yoou like the way of training and explaination, you can start the training in your flexible timings with very affordable price. You can reach us on Nine Six Four Zero Four Four Zero Four Six Eight.

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Answered on 15/07/2018 IT Courses/SAP IT Courses/SAP/SAP Product Life cycle management products/SAP MM IT Courses/SAP/SAP FICO

Deepak M.

i have 12 year experience in SAP FI/MM/SD/PP if someone intrested can contact me,i am giving online training ,india as well as overseas Deepak Mathur
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Lesson Posted on 24/04/2018 IT Courses/SAP IT Courses/SAP/SAP Analytics and Data management Products IT Courses/SAP/SAP FICO +3 IT Courses/SAP/SAP Product Life cycle management products/SAP MM IT Courses/SAP/SAP Technology Platform /SAP ABAP IT Courses/SAP/SAP Business Intelligence (BI) less

The Real Value of SAP in the World

Bright Computer Education

Bright Computer Education is Vadodara based Institute, works on All India Computer Education Mission....

The SAP is a standout amongst the most requested innovation in this day and age. SAP was established in the year 1972 going for creating enterprise asset solutions that upgrade information administration and work forms in organisations. The SAP is a standout amongst the most requested innovation in... read more

The SAP is a standout amongst the most requested innovation in this day and age. SAP was established in the year 1972 going for creating enterprise asset solutions that upgrade information administration and work forms in organisations.

The SAP is a standout amongst the most requested innovation in this day and age. SAP was established in the year 1972 going for creating enterprise asset solutions that upgrade information administration and work forms in organisations. Since it began its trip with inventory management, SAP has made considerable progress creating various ERP modules for various work forms in organisations. Today, SAP has software systems for every one of the divisions in an organization, for example, SAP HCM (Human Capital Management) module for the HR office, SAP SD (Sales and Distribution) module for the business group, SAP CRM (Customer Relationship Management) for the CRM office, SAP Payroll module for the finance group, SAP FICO (Financial Accounting) module for the finance team and so on. Additionally SAP NetWeaver is created to give the enterprise a brought together a single system that can oversee information from various divisions or organisations. SAP goes for overseeing information from alone brought together the framework and its number of modules guarantees that the point is accomplished. SAP execution is now, and again troublesome and complex and satisfactory learning and involvement in dealing with SAP system are fundamental to manage SAP modules. SAP certification assumes a noteworthy part in setting up your master information in the worldwide market. SAP certification approves your capacity to utilise SAP systems for overseeing enormous information bases of an association and master aptitudes on SAP reporting.

Difference between SAP certification and skills:
Each time another certification is introduced, the question arises of being noteworthy, and SAP certification is no exemption. There are numerous discussions on the value of SAP certification in the Information Technology field. The conflict between the value of having a SAP certification and having real technology abilities is one of the real points in such talks. A certification doesn't demonstrate one's genuine ranges of abilities. In any case, it unquestionably approves one's abilities in the expert world. A SAP certification shows an individual’s effort and devotion to experience an exam and get ensured. SAP certification is a standout amongst other approaches to self-educate individuals. The testing system to certify professionals in SAP exams is thorough and individual need to increase sufficient learning to accomplish one. Additionally, studies say that businesses are constantly quick to employ certified experts than the non-certified person. The debate on the importance of SAP certification will keep on moving on without a conclusion.

Advantages of SAP certification:

  • Global Recognition:

    SAP certification is a standout amongst the most well-known technology certification and is perceived universally. By achieving a SAP certification, you approve your SAP aptitudes in the worldwide market.

  • Improves SAP Skills:

    To achieve SAP certification, one needs to qualify for the SAP certification exam that requires preparing and satisfactory SAP abilities. Candidates enhance their SAP abilities towards achieving the SAP certification.

  • Diverse SAP Modules:

    There are diverse SAP modules for various organisation processes. Candidates can take up certification for SAP modules that fit their job profile. For instance, HR experts can take up SAP HCM affirmation, back experts can take up SAP FICO certification, and sales people can take up SAP SD certification and so on.

  • Improves Job Performance:

    Adopting SAP systems empower enterprise to oversee data base and work process of various departments and branches from a unified system. In this manner, SAP certification enhances one's job performance towards achieving association objectives.

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