SAP FICO indicates “Financial Accounting” and “Controlling”. SAP FI and SAP CO square measure the vital core modules in SAP that square measure tightly integrated one another and helps the business organizations to take care of and generate money statements for effective deciding and news. FI & CO square measure a completely different set of books, wherever the SAP FI deals with external accounting and SAP CO deals with internal accounting.
SAP money Accounting (FI)
SAP FI module records and maintains money transactions of a corporation in a period of time on commonplace and generates money statements (Balance sheets, Profit & Loss accounts, etc) for external news.
Sub-Modules of SAP FI
General Ledger Accounting – All the postings that square measure drained SAP square measure recorded through general ledger(G/L) accounts.
Accounts collectible – Accounts collectible collects and maintains all the transactions associated with trafficker accounts.
Accounts Receivable – It records and maintains all the transactions associated with client accounts.
Bank Accounting – It deals with all the transactions of payments like incoming payments, outgoing payments,
Asset Accounting – SAP FI-AA sub-module deals with all the transactions associated with assets.
Travel Management – It deals with all the methods concerned with a business trip and travel expenses.
SAP CO (Controlling)
SAP CO is one in every of the vital module of the SAP system because it provides the operational data to management for higher method} process. thus it takes care of all the necessities for news.
Sub-Modules of SAP CO
The vital sub-modules of SAP dominant square measure
Cost Centre – it's a corporational component that is accountable for recording all the expenses that square measure occurred at intervals AN organization. E.g. of price centers square measure department, work center.
Product cost accounting – This CO sub-module is employed to estimate the prices for manufacturing service or a product.
Profit center – It records and maintains all the profits of a corporation.
Profit Analysis – This sub-module helps a corporation to trace and analyze.
Comments
Post a Comment