SAP FI Module

The SAP FI Module has the capability of meeting all the accounting and financial needs of an organization. It is within this module that Financial Managers as well as other Managers within your business can review the financial position of the company in real time as compared to legacy systems which often times require overnight updates before financial statements can be generated and run for management review.

The real-time functionality of the SAP modules allows for better decision making and strategic planning. The FI (Financial Accounting) Module integrates with other SAP Modules such as MM (Materials Management), PP (Production Planning), SD(Sales and Distribution), PM (Plant Maintenance),and PS (Project Systems).

The FI Module also integrates with HR(Human Resources) which includes PM(Personnel Management), Time Management, Travel Management, Payroll.Document transactions occurring within the specific modules generate account postings via account determination tables.

The FI Module includes following sub-modules as follows:

1. Accounts Receivables
2. Accounts Payable
3. Asset Accounting
4. Bank Accounting
5. Consolidation
6. Funds Management
7. General Ledger
8. Special Purpose Ledger
9. Travel Management

Accounts Receivables records all account postings generated as a result of Customer sales activity.

Accounts Payable records account postings generated as a result of Vendor purchasing activity.

Asset Accounting is utilized for managing your company’s Fixed Assets. SAP allows you to categorize assets and to set values for depreciation calculations in each asset class.

Bank Accounting allows for management of bank transactions in the system including cash management.

Consolidation enables the combining of financial statements for multiple entities within an organization.

Funds Management allows management to set budgets for revenues and expenses within your company.

General Ledger is fully integrated with the other SAP Modules. It is within the General Ledger that all accounting postings are recorded. These postings are displayed in real-time providing up-to-date visibility of the financial accounts.
Special Purpose Ledger is used to define ledgers for reporting purposes. Data can be gathered from internal and external applications.
Travel Management provides management of all travel activities including booking trips and handling of expenses associated with travel.

Source:

http://www.thespot4sap.com/IntroTo/SAP_FI_Module_Introduction.asp