INTRODUCTION TO SAP FICO

SAP FICO Stands for FI (Financial Accounting) and CO (Controlling). SAP FICO is the important module of ERP and both FI and CO modules store the financial transactions data.

 SAP FI Module

• SAP FI  is the important module of all SAP implementations
• SAP FI ( Financial Accounting ) is used for external reporting i.e Balance sheet, Profit and Loss statements
• SAP FICO Module integrates with various other SAP Modules such as MM (Materials Management), SD(Sales and Distribution),  PP (Production Planning), PM (Plant Maintenance),and PS (Project Systems).
• SAP FI (Financial Accounting) Module receives postings from various other modules such as Materials Management, Sales and Distribution, Human Resource) through integration.
• 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).

 SAP FI – Sub-Modules

• General Ledger accounting
• Accounts Receivables
• Accounts Payable
• Asset Accounting
• Bank Accounting
• Consolidation
• Special Purpose Ledger
• Travel Management

SAP CO Module

SAP 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 Center Accounting, Product Costing, and Profitability etc.

 SAP CO Sub-Modules

• Cost Element Accounting
• Cost Center Accounting
• Profit Center Accounting
• Internal Orders
• Product Cost Controlling
• Profitability Analysis