SAP FICO Online Training| SAP FICO Tutorial| FICO Training

What is SAP FICO Module ?

This is not a question that an interviewer would ask to any SAP FICO job aspirant. Obviously, you should  be updated about SAP FICO module while applying for a job in this domain. Still it is never too late to revise the terms.

SAP FICO module refers to the Finance(FI) and Controlling(CO) modules of SAP ERP system. FI and CO are the core modules of SAP. They are tightly integrated with  Sales and Distribution Module ( SD) and Materials management (MM) module.

SAP FICO Module Integration

The  above diagram appropriately shows how SAP FI and CO modules are places in  the overall SAP architecture.

What is SAP FI ?

SAP Financial Accounting (FI) is the core module where  all the financial processing transactions are captured. This is the module that is used to create statutory Financials Statements for external reporting purposes.

Functions in SAP FI can primarily be divided into General Ledger Accounting (G/L), Accounts Receivable and Accounts Payable(AR/AP) processing, and Fixed Asset Accounting(AA). We will pick up details of SAP FI module in another blog post.

What What is SAP CO ?

SAP Controlling module helps provide operational information to the management of a company to support business analysis and decision-making.  CO represents the internal accounting viewpoint of an organisation. It provide information to managers to help  manage costs and operations of the organization.

SAP refers External Accounting as “Financial Accounting”(SAP-FI) while Internal Accounting is referred as Managerial Accounting(SAP-CO).

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SAP FICO| SAP FICO Online Training

The SAP Finance and Controlling Accelerator gives you instant access to large volumes of data - allowing you to quickly close the reporting period end. The combination of SAP HANA and SAP Enterprise Resource Planning (ERP) increases efficiency financing and controlling covering four key scenarios for core business processes, legal reporting requirements and internal reporting.

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

SAP FICO - SAP FI Module: - what is sap fico Online Training

SAP FI module is important to all implementations of SAP
SAP FI (Financial Accounting) is used for the balance sheet, ie external reporting, Profit and loss statements
SAP FICO Module integrates with other SAP modules as SAP MM (Materials Management), SAP SD (Sales and Distribution), SAP PP (Production Planning) SAP PM (Plant Maintenance), and SAP PS (Project Systems).
SAP FI (Financial Accounting) Module receives shipments of several other modules such as Materials Management,SD, Human Resources) through integration.
All relevant accounting transactions made ​​in Logistics (LO) are published in real time financial accounting by automatic account determination. This data can also be transmitted to Controlling (CO).

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