SAP FICO is the Finance and cost controlling module in SAP ERP wherever FI stands for financial Accounting and CO stands for controlling. SAP FICO module is extremely strong and covers most business method encountered in numerous industries. it’s one among the vital and wide enforced modules in SAP.
SAP FI stands for financial Accounting and it’s one in every of necessary modules of SAP ERP. it’s used to store the money data of a company. SAP FI helps to research the financial conditions of an organization within the market. It will integrate with other SAP modules like SAP SD, SAP PP, SAP MM, SAP SCM, etc.
SAP dominant (CO) is another vital SAP module offered to a company. It supports coordination, monitoring, and improvement of all the processes in a company. SAP CO includes managing and configuring master information that covers price and profit centers, internal orders, and different price components and useful areas.
The SAP FI CO (Financial Accounting & Controlling) Module has the aptitude of meeting all the accounting and financial desires of a company. it’s at intervals this module that money Managers moreover as different Managers at intervals your business will review the money position of the corporate in real time as compared to gift systems which frequently times require nightlong updates before money statements may be generated and endure management review.
The FI Module additionally integrates with unit of time (Human Resources) which incorporates PM (Personnel Management), Time Management, Travel Management, Payroll. Document transactions occurring at intervals the particular modules generate account postings via account determination tables.