Learn SAP FICO is additionally expressed as SAP FI/CO, FI remains for Financial Accounting and CO for Controlling, used to audit and screen the budgetary circumstance of an association. By utilizing FICO, you can look at within operations by creating and planning the reports and can find the answers for bookkeeping necessities. SAP FI speaks to the parts of financials and SAP CO perspectives the Managerial and Cost Controlling.
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 (Finance) 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