what is 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 stores the complete financial transaction data of an organization.
SAP CO overview
SAP CO module is one of the important in SAP. Controlling is a function that provides you with information for business analysis and management decision-making process. CO facilitates organizational management, monitoring, and optimization of all processes in an organization.
The controlling component provides tools used to provide information to support business analysis and decision-making.
SAP FI Modules contains the following sub-modules
SAP Financial Accounting module is further divided into further several sub-modules, such as
General Ledger accounting
Special Purpose Ledger
General Ledger Accounting:- General ledger accounting is to provide a complete report for external and internal accounting i.e Accounts, Journals, Monthly debits and Credit, Balance sheet, and Recording all business transactions.
Accounts Payable:- The Accounts Payable records and manages all accounting data related to vendors
Accounts Receivable:- The Accounts receivable records and manages all accounting data related to Customers
Asset Accounting:- Asset Accounting is utilized for managing your company’s Assets. SAP allows you to categorize assets and to set values for depreciation calculations in each asset class.
Bank Accounting:- Bank accounting is used to manage the bank transactions in the system including cash management.
Consolidation: – Consolidation enables the combining of financial statements for multiple entities within an organization. These financial statements provide an overview of the financial position of the company as a whole.
Funds Management:- Funds Management manages budgets for revenues and expenses within your company as well as tracks these in the area of responsibility.
Special Purpose Ledger:- Special purpose ledger is used to define ledgers for reporting purposes.
Travel Management:- Travel Management provides management of all travel activities including booking trips and handling of expenses associated with travel.
SAP FICO (FI&CO) Training Tutorial Step by Step with Screen Shots,
SAP CO Module:- what is sap fico ?
SAP Controlling plays an important role in the management decision making and CO Module is used for the internal reporting purpose. Controlling Area is the organizational unit used to represent the controlling activities of Cost Center Accounting, Profit Center Accounting, Product Costing, Profitability, etc.
SAP CO Module contains the following sub-modules:-
Cost Element Accounting
Cost Center Accounting
Profit Center Accounting
Product Cost Controlling
SAP Fico Training Tutorials
SAP S4Hana Financial Accounting Tutorials
Download FICO Materials