SAP Financial Accounting & Controlling

New Era Solutions; Bengaluru; On-site; INR 6,00,000 - 10,00,000; Full time

Job summary

A leading technology solutions provider seeks a professional to manage SAP Financial Accounting & Controlling. The role emphasizes integration of financial reporting processes and compliance with accounting standards. Candidates must demonstrate a strong understanding of financial processes within SAP. This position offers an exciting opportunity for those looking to develop their careers in financial technology solutions.

Job description

SAP Financial Accounting & Controlling

SAP Financial Accounting (FI)

Purpose: The FI module is designed to record, process, and report financial transactions. It ensures compliance with external reporting requirements (legal, tax, etc.).

Key Features:

• General Ledger Accounting (G/L): Records all company transactions.
• Accounts Payable (AP): Manages vendor transactions and payments.
• Accounts Receivable (AR): Manages customer transactions and receipts.
• Asset Accounting (AA): Tracks company assets, depreciation, and valuation.
• Bank Accounting: Manages bank transactions and reconciliations.
• Special Purpose Ledger: Custom ledgers for flexible reporting.

Objectives:

• Accurate financial statements (Balance Sheet, Profit & Loss)
• Integration with other modules (MM, SD, etc.)
• Compliance with accounting standards (e.g., IFRS, GAAP)

SAP Controlling (CO)

Purpose: The CO module supports internal reporting and decision-making by tracking and managing costs and performance.

Key Features:

• Cost Element Accounting: Captures expense and revenue information.
• Cost Center Accounting: Monitors costs by departments or locations.
• Internal Orders: Tracks costs for specific projects or jobs.
• Profit Center Accounting: Analyzes profit by business units.
• Product Costing: Calculates costs for manufacturing products.
• Profitability Analysis (CO-PA): Analyzes profitability by products, customers, markets, etc.

Objectives:

• Budgeting and cost control
• Profitability and performance analysis
• Allocation and settlement of costs

Integration between FI and CO

• Transactional Flow: Many transactions (e.g., invoice postings, goods movements) update both FI and CO simultaneously.
• Master Data Sharing: Organizational structures (like company codes, cost centers) are often shared.
• Real-Time Updates: Costs and revenues posted in FI are immediately available for analysis in CO.

Sample Business Process Flow

1. Purchase Order Creation (MM)
2. Goods Receipt (MM) FI document posted
3. Invoice Receipt (MM/FI) AP updated, expense posted to cost center (CO)
4. Payment to Vendor (FI)
5. Month-end Close (FI/CO) Allocations, settlements, financial reporting