SAP FICO: SAP FICO Stands for FI (Financial Accounting) and CO (Controlling). SAP FICO is the important module of ERP and both FI and CO modules stores the financial transactions data.
◾SAP FI is the important module of all SAP implementations
◾SAP FI (Financial Accounting) is used for external reporting i.e. Balance sheet, Profit and Loss statements
◾SAP FICO Module integrates with various other SAP Modules such as MM (Materials Management), SD (Sales and Distribution), PP (Production Planning), PM (Plant Maintenance), and PS (Project Systems).
◾SAP FI (Financial Accounting) Module receives postings from various other modules such as Materials Management, Sales and Distribution, Human ...view middle of the document...
Consolidation: - Consolidation enables the combining of financial statements for multiple entities within an organization. These financial statements provide an overview of the financial position of the company as a whole.
Funds Management: - Funds Management manages budgets for revenues and expenses within your company as well as track these in the area of responsibility.
Special Purpose Ledger: - Special purpose ledger is used to define ledgers for reporting purposes.
Travel Management: - Travel Management provides management of all travel activities including booking trips and handling of expenses associated with travel.
SAP Controlling plays an important role for the management decision making and CO Module is used for the internal reporting purpose. Controlling Area is the organization unit used to represents the controlling activities of Cost Centre accounting, Profit Centre Accounting, Product Costing, and Profitability etc.
SAP CO Module contains the following sub-modules:-
◾Cost Element Accounting
◾Cost Centre Accounting
◾Profit Centre Accounting
◾Product Cost Controlling
SAP MM (Material Management) is one of the important modules in SAP ERP...