SAP FICO stands for FI (Financial Accounting) and CO (Controlling), SAP FI CO is the best configuration and module for internal and external accounting processes. It is an important central ERP process module, in which real-time financial transactions are integrated with various parallel SAP modules for best results.
Suitable for professionals who want to excel in the areas of accounting and finance; SAP Financial Accounting (FI) provides very sophisticated means of financial transaction reporting and better account processing. External reports generated with the help of 'SAP FICO' are increasingly used by banks, administrators, tax authorities, stock holders and managers, according to their specific requirements. SAP FI is responsible for integrating various modules and creating a single system for the entire organization. In summary, it draws data for external reporting procedures, while its management control module (CO) focuses on data for internal users.
Sub-components of SAP FI
SAP FI General Ledger accounting
Special Purpose Ledger
SAP Controlling is essential for management decision-making processes and is often used for internal reporting purposes. The Controlling domain is usually a smartly designed organizational unit, useful for representing profit center control and accounting activities, costing of products, profitability, and so on. CO, the control module, complements the value created by FI reports and uses the many features of widely used SAP FI components. The Management Control Module (CO) also facilitates management by organizing profit centers, cost centers, contribution margins, and so on. Once the transactions
Sub Components of SAP CO
Cost Element Accounting
Profit Center Accounting
Cost Center Accounting
Product Cost Controlling
SAP FI offers some of the most important components for various SAP implementations.
SAP FI (Financial Accounting) is an effective tool for creating reliable, accurate, time-based external reports in the form of income statements, balance sheets, and more.
Other SAP modules such as SAP SD (Sales and Distribution), MM (Materials Management), PS (Project Systems), PM (Plant Maintenance) and SAP PP (Production Planning) integrate well with SAP FICO and he provide consistent writings. . These benefits of SAP FI CO are used by the applications of most organizations around the world.
All account transactions are generated in logistics (LO) and are recorded in real time in the financial accounting modules using automatic account determination techniques. All these data can also be transmitted to the management control (CO).
SAP Simple Finance is one of the important modules to manage SAP Finance and Accounting offered by SAP HANA. This module is used for real-time business intelligence and business intelligence (BI) tools. SAP Simple Finance helps to analyze the financial status of an organization in the market. We at SAP COACH covers complete course of SAP Basic Finance and how to deal with its various modules and sub-modules.
This course is very useful for professionals who aspire to learn the threads of SAP Simple Finance and implement it in practice. Our Simple Finance Solutions is a SAP consulting Training Institution that is mainly pesponsible for providing training and SAP Accounting Solution.
SAP Simple Finance offers an accounting solution by SAP HANA. S / 4 HANA finance with different finance and accounting management processes and support operations. SAP S / 4 HANA Finance, have the following releases -
SAP S / 4HANA Finance 1809
SAP S / 4HANA Finance 1709
• SAP S / 4HANA Finance 1605
• SAP S / 4HANA Finance, On-Premise Edition 1503
• SAP Simple Finance Add-On for SAP Business Suite by SAP HANA
Note: - SAP Simple Finance is also known as SAP S / 4 HANA Finance.
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