Authored by Pratibha

What is the SAP FICO module?

SAP FICO (Financial Accounting and Controlling) is a software module within the SAP ERP (Enterprise Resource Planning) system that is designed to manage a company's financial and accounting operations. It is widely used in large and mid-sized organizations across various industries, and its usefulness can be evaluated from different perspectives.

SAP FICO, which stands for Financial Accounting and Controlling, is a software module designed for financial planning and analysis. It is a popular tool used by businesses of all sizes to manage their financial data, create financial reports, and perform financial planning and analysis. One must know the basics of the two essential modules to understand the roles and responsibilities of an SAP FICO consultant. Let us discuss them briefly.

SAP FICO Course in Pune is a certification degree Course that deals with the Finance and Cost controlling module in SAP ERP where FI represents Financial Accounting and CO represents Controlling. SAP FICO module is hearty and covers practically all business cycles experienced in different industries.

SAP FI Module: The development of the financial management ideas in the business is linked with the SAP Financial accounting module. Every organization needs a system to manage their finance with flawless management ability. However, in the current scenario, it is a difficult task to manage complete financial accounting and management manually. Thus, in most organizations, the SAP FI module has appeared. It became a popular module that carries out the financial and accounting processes smoothly. Together with the complete set of SAP FICO modules, it becomes easy for the organization to manage the financial requirements and accounting smoothly. SAP FI modules comprise of the following components: Account Receivable General Ledgers Asset Accounting Account Consolidation Accounts Payable.

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SAP CO Module: Another module of SAP FICO is SAP Controlling, i.e. SAP CO. Every enterprise can maintain, justify, supervise, and plan various processes with the help of this module. Since this module helps to view and manage the associated costs, the controlling module is directly connected with the financial accounting module. SAP CO comprises many other elements apart from just controlling like user and involves master data, reporting, and configuration. Masters data includes: Cost elements Cost centers Profit centers Internal orders Functional area Statistical vital figures Activity types

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