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SAP Financial Accounting (FI)

SAP Financial Accounting (FI) - SAP ERP Tutorial

From the course: SAP ERP Essential Training

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SAP Financial Accounting (FI)

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- [Instructor] SAP S/4HANA is broken up into different modules that interact with each other. Let's dive into the SAP Financial Accounting Module, often referred to as SAP FI. This functionality is part of what SAP is now calling the finance line of business. The SAP FI Module is responsible for tracking and reporting on financial data across an organization. It contains nearly every financial business process a company may have. Because it is so versatile, the SAP FI Module is one of the most widely implemented by companies using SAP. The Universal Journal is a feature that was new with the introduction of S/4HANA. The Universal Journal integrates Financial Accounting and Managerial Accounting into a single data model. The Universal Journal permanently reconciles all the components of both Financial Accounting and Managerial Accounting. This includes the General ledger, Asset accounting, Controlling, the Material ledger, and Profitability analysis. The Universal Journal ensures we…

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