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Sap fica online training

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Published on September 15, 2014

Author: striveerp

Source: slideshare.net

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strive erp providing fica training
please contact www.striveerp.com
e-mail:striveerp@gmail.com
Phone:+917675979146
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SAP FINANCIAL CONTRACT ACCOUNTS RECEIVABLES AND PAYABLES ON-LINE TRAINING CORPORATE TRAINING ON-LINE TRAINING CONTACT US PHONE NO:+917675979146 WWW.STRIVEERP.COM E-MAIL:STRIVEERP@GMAIL.COM SKYPE ID:STRIVE.ERP

SAP FINANCE AND CONTRACT ACCOUNTING ON-LINE TRAINING course overview Contract Accounts Receivable and Payable (FICA) portion of the product. It contains financial transactions and processes inherent to a water utility. FICA, a sub-ledger accounting system, interfaces with Financial Accounting (FI) to properly record the transactions occurring at the customer (Business partner) level. FICA supports the following financial processes for the utility. It is integrated with Billing and Invoicing module of ISU Security Deposit Management refers to the processes involved with collecting and tracking security deposits required from contract partners who are a poor credit risk. These processes allow the utility to collect security deposits from those customers who represent a risk to the utility, and refund the deposit when it is determined that it is no longer required.

SAP FINANCE AND CONTRACT ACCOUNTING ON-LINE TRAINING Customer Financial Management Contract Accounts Receivable and Payable (FICA) portion of the product. It contains financial transactions and processes inherent to a water utility. FICA, a sub-ledger accounting system, interfaces with Financial Accounting (FI) to properly record the transactions occurring at the customer (Business partner) level. Payment Processing Processing of Returns Security Deposit Management Refunds Dunning External Collection Agencies Lien Processing Calculation of Customer Credit Worthiness Reconciliation and Closing Miscellaneous Document Posting Deferral and Installment Plans Write-off Reconciliation and Closing

SAP FINANCE AND CONTRACT ACCOUNTING ON-LINE TRAINING Business Partner A natural person or legal entity, with which the Utility company has a legal relationship Contains central data such as business partner’s name, addresses, communication numbers and bank details The Business Partner in ISU will be replicated from CRM There is one Business Master record for each Business Master, but it can have different roles. Contract Account In FICA, postings are always assigned to a Contract Account One Business Partner must have at least one Contract Account Contains central data for posting and further processing of open items, such as payment condition, payment method and dunning procedure

SAP FINANCE AND CONTRACT ACCOUNTING ON-LINE TRAINING Agreement between the Utility company and Business Partner Created on ‘Move in’ of Business Partner into the property Integrated Business Master Data with Technical Master Data Contains control data for billing, budget billing One Business Partner can have several Contract Accounts One Contract Accounts can have several contracts allocated

SAP FINANCE AND CONTRACT ACCOUNTING ON-LINE TRAINING Payment Processing The payment function provides the ability to process walk-in payments, lock-box payments, batches of payments and direct debit transfers. The payment methods supported include cash, check, money order, and direct debit payments. Direct debit payments represent the contract accounts that allow the utility to directly draft the amount of the utility invoice from a customer selected bank account. The payment function provides the utility the ability to process: Payments at the cash desk Batch payment processes Lock-box payments Direct debit process

SAP FINANCE AND CONTRACT ACCOUNTING ON-LINE TRAINING Processing of Returns The return check function combines returned items into return lots which are processed in a manner similar to payment lots. The lots will be created manually based upon information received from the bank and data gathered by the utility. When the return lot is posted: 1.The payment clearing is reversed. 2.Any charges related to returned items are automatically created. 3.Creditworthiness is updated to reflect the return transaction. The returns transaction allows the utility to process returned items which have been deposited as part of the incoming payment process. The return function will: Apply returned payments to the contract account Pass returned fund charges to the contract account Generate returned check notifications to the contract account automatically

SAP FINANCE AND CONTRACT ACCOUNTING ON-LINE TRAINING Security Deposit Management Security Deposit Management refers to the processes involved with collecting and tracking security deposits required from contract partners who are a poor credit risk. These processes allow the utility to collect security deposits from those customers who represent a risk to the utility, and refund the deposit when it is determined that it is no longer required. Deposit Management will include the following processes Security deposit request Payment of security deposits Manual refund of security deposits Refund of security deposit with final invoice Refund of security deposit for exhibiting good payment

SAP FINANCE AND CONTRACT ACCOUNTING ON-LINE TRAINING External Collection Agencies Bf a customer does not pay his receivables, and all measures have been taken to collect the receivables, many utility companies use collection agencies to prevent losing the receivable. The SAP system allows the utility to manage accounts submitted to a collection agency and the exchange of information with those collection agencies. FI-CA allows items to be handed over to an external collection agency if dunning is unsuccessful, and supports subsequent processes. This involves the following functions: Release items for delivery to a collection agency. Automatic release can take place from dunning or charge-off processes. You can also release items manually. Determine additional items to be handed over (for example, hand over all items for a contract, contract account, or business partner)

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