The SAP Financial Accounting module (SAP Finance or SAP FI, for short) is key when it comes to recording, collecting and processing financial transactional information in real time.
With this module, you can extract the necessary data to be used for external reporting and can be easily integrated with other SAP modules.
The SAP Financial Accounting application has a number of subcomponents, which are as follows:
- Asset Accounting (FI-AA): FI-AA manages all the financial activities from the procurement to the final sales.
- Accounts Payable: This module manages all of the activities of vendor transactions. It can also be used to create a payment program for processing payments to vendors.
- Accounts Receivable (FI-AR): FI-AR manages all activities of customer transactions. In accounts receivable, you can create a program for management of credit functionalities.
- Bank Accounting (FI-BA): FI-BA manages the bank transactions and cash management. It can be integrated with other subcomponents such as accounts payable and accounts receivable, for example.
- General Ledger (FI-GL): FI-GL is where profit and loss accounting are extracted into balance sheets, then the data that has been entered in the SAP system will be posted to other integrated systems.
- Travel Management (FI-TM): FI-TM manages business trips of the organisation and can be integrated with many other systems. It can be used to manage travel requests, planning and expenses.
SAP Finance is utilised by a number of IT professionals, including Business Analysts.
