About FICO (Financing Accounting & Controlling)
Duration: 2 Month(s)
ERP FICO Stands for FI (Financial Accounting) and CO (Controlling). ERP FICO is the important functional module of SAP ERP and Both FI and CO modules stores the financial transactions data.
ERP FI Module:
1. FI is the important module of all ERP implementations.
2. FI is used for external reporting i.e. Blance Sheet, Profit and Loss Statement.
3. FICO Module integrates with various other modules such as MM (Materials Management), SD (Sales & Distribution), PP (Production Planning), PM (Plant Management) and PS ( Project Systems).
4. FI module receives posting from various other modules such as MM, SD and HR through integration.
5. All accounting relevant transactions which are made in Logistics (LO) are posted real time to Financial Accounting by automatic account determination. This data can also be passed on to Controlling (CO).
FI Modules contain the following sub modules:
1. General Ledger Accounting
2. Accounts Receivables
3. Accounts Payable
4. Asset Accounting
5. Bank Accounting
7. Special Purpose Ledger
8. Travel Management
ERP CO (Controlling) plays an important role for the management decision making and CO module is used for the internal reporting purpose. Controlling area is the organization unit used to represents the Controlling activities of Cost Center Accounting, Profit Accounting, Product Costing and Profitabilty etc.
CO Module contain the following sub modules:
1. Cost Element Accounting
2. Cost Center Accounting
3. Profit Center Acoounting
4. Internal Order
5. Product Cost Controlling
6. Profitablity Analysis