SAP FICO

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What is SAP FICO?

SAP FICO is an essential functional module of SAP ERP comprised of two key components, SAP Financial Accounting (FI) and Controlling (CO). The SAP FI module is centered around financial reporting and accounting management, while SAP CO emphasizes planning and monitoring costs throughout the entire organization.

The SAP ERP fully integrated SAP FICO modules help organizations improve the quality of their financial accounting data, record financial transactions more accurately, and analyze an organization’s financial conditions with enhanced visibility.

The SAP FICO module has pre-built integration capabilities with the following modules to further integrate and optimize operations within the SAP business systems:

Sales and Distribution (SAP SD)
Plant Maintenance (SAP PM)
Materials Management (SAP MM)
Quality Management (SAP QM)
Production Planning (SAP PP)
Extended Warehouse Management (EWM)

Key Features of SAP FI

SAP Financial Accounting is one of the most essential modules throughout the entire SAP ecosystem, and it helps organizations in various industries store financial data, assess the current condition of essential financial business processes, and maximize the productivity of other accounting functions within the system.

SAP Financial Accounting also comes with pre-built integrations that connect it to other SAP modules and applications, like SAP Sales and Distribution, Materials Management, and more.

Key Capabilities of SAP CO

SAP Controlling is directly related to the Finance Accounting module in SAP and helps organizations configure master data and manage profit centers, internal orders, and other functional areas of costing.

SAP CO can also be integrated with SAP Materials Management, Production Planning, Quality Control, and more.

Main Components of SAP FI

The SAP FI module offers key sub-modules, tools, and components that not only help companies keep track of their accounting data, but also make it easier for them to maximize their SAP investment with optimized day-to-day accounting activities.

The SAP FI module focuses on a few main components — asset accounting, general ledgers, to produce financial statements, fast close functions, parallel valuations, and data governance — to simplify key finance accounting practices.

SAP FI Sub-Modules

The SAP FI module offers :

Asset Accounting
General Ledger Accounting
Bank Accounting
Accounts Payable and Accounts Receivable
Funds Management
Travel Management

Main Components of SAP CO

SAP CO offers capabilities that monitor, control, and optimize key business processes in organizations of any size, location, or industry. SAP Controlling functions include managing, monitoring, and storing master data and recording production factor and service consumption throughout an organization.

This module helps companies build, configure, and manage important organizational plans in a more efficient way. This way, organizations can compare data, control essential business flows, and determine key system variances.

SAP CO Sub-Modules

The SAP CO module offers :

Cost Element Accounting
Cost Center Accounting
Profit Center Accounting
Activity-Based Accounting
Internal Orders
Product Cost Controlling
Profitability Analysis

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