SAP FICO: Modules in It SAP FICO is an important functional module of SAP ERP that focuses on managing the financial data of an organization. In addition, it consists of two different sections that are SAP FI (financial accounting) & SAP CO (controlling). Many institutions provide SAP FICO Training in Noida and an aspirant can enroll in them to learn about the functioning of this tool.
Modules of SAP FICO SAP FI is further divided into sub-modules. Given below are the sub-modules of SAP FI. • • • • • • • • •
General Ledger accounting- This sub-module helps in providing a complete report of external and internal accounting. Accounts Receivables- This sub-module records all the transactional data related to customers. Accounts Payable- It manages all the transactional data relate to a vendor. Asset Accounting- It manages a company's assets and allows the categorizing of assets along with values for depreciation. Bank Accounting- It manages the cash and records the bank transactions. Consolidation- This sub-module ensures the combining of financial statements for various entities in an organization. Special Purpose Ledger- It is responsible for defining ledgers for reporting purposes. Travel Management- It manages all the activities and transactions related to a company's official travels. Fund Management- This module manages the budgets for a company's revenue and expenses.
On the other hand, these are the sub-modules of SAP CO. • • • • •
Cost Element Accounting- It is an overview of a company's costs and revenues. Cost Center Accounting- It has uses in controlling purposes in an organization. Product Cost Controlling- It is responsible for calculating the cost that occurred during product manufacturing. Profitability Analysis- This submodule analyses the profit or loss of an organization by individual segments. Profit Center Accounting- It evaluates the profit and loss of independent areas of an organization.
Benefits of Learning SAP FICO •
Growing Importance of SAP FICO- SAP FICO ensures all-around financial management of an organization. In addition, it ensures better record management along and facilitates the decision-making process. In addition, it helps in managing modifications and production costs. Due to these features, this tool has growing importance worldwide.