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ERP in Finance

The ERP finance module is the core of many ERP software systems. It integrates financial data from different departments to generate reports like balance sheets and financial statements. The SAP FI module meets all accounting needs in real-time, allowing for better decision making. It integrates with other SAP modules like procurement and sales. The FI module includes accounts receivable, accounts payable, asset accounting, and more. Similarly, Oracle Financials includes general ledger, accounts receivable, accounts payable, and other financial modules.

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371 views4 pages

ERP in Finance

The ERP finance module is the core of many ERP software systems. It integrates financial data from different departments to generate reports like balance sheets and financial statements. The SAP FI module meets all accounting needs in real-time, allowing for better decision making. It integrates with other SAP modules like procurement and sales. The FI module includes accounts receivable, accounts payable, asset accounting, and more. Similarly, Oracle Financials includes general ledger, accounts receivable, accounts payable, and other financial modules.

Uploaded by

arun139
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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ERP In Finance

All kind of organizations small scale, large scale organizations benefit from the implementation
of ERP finance module. The financial module is the core of many ERP software systems. It can
gather financial data from various functional departments, and generates valuable financial
reports such general ledger, trail balance, as balance sheet and quarterly financial statements. 

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 (Financial Accounting) Module  components.

The FI Module comprises several sub-modules as follows:

o Accounts Receivables
o Accounts Payable
o Asset Accounting
o Bank Accounting
o Consolidation
o Funds Management
o General Ledger
o Special Purpose Ledger
o Travel Management

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


activity.

These postings are automatically updated in the General Ledger . It is within the Accounts

Receivables Module that you can monitor aging of the receivables and generate customer
analysis. The Accounts Receivable Module also integrates with the General ledger, Sales and
Distribution, and Cash Management Modules.

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


Automatic postings are generated in the General Ledger as well. Payment programs within SAP
enables the payment of payable documents by check, EDI, or transfers.
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. These statements provide an overview of the financial position of the company as a
whole.

Funds Management allows management to set budgets for revenues and expenses within your
company as well as track these to the area of responsibility.

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.

Oracle financials:

The Oracle 11i eBusiness Suite (also called Oracle Financials) is the premier accounting and
financial ERP, one of the most flexible and robust packages ever created.  The main areas of
Oracle financials 11i includes General Ledger (GL), Accounts Receivable (AR), Accounts
Payable (AP), Fixed assets (FA) and Financial Intelligence (FI), Inventory Management, and
Daily Business Intelligence (DBI).
This intensive 5-day Oracle Financials training jumpstart in the eBusiness Suite components
provides an overview of each of the functional areas within Oracle Financials. BC also offers
specific training courses for Each eBusiness module:

 AR accounts receivable Training


 Accounts Payable
 General Ledger
 Fixed Assets
 iProcurement (Purchasing)
 Order Management
 Financial Analysis
 Inventory Management
 Reporting an using the DBI

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