Introduction to SAP FICO and List of Sub Modules

What is SAP FICO?

SAP FICO is blend of two perspectives

  1. SAP Financial Accounting (FI)
  2. SAP Controlling (CO)

SAP FICO

SAP Financial Accounting (FI)

SAP FI Module and its Application:

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SAP Financial Accounting as the term proposes redesigns money administration in endeavors. Money is the most basic part of each business and this goes for the ideal administration of fund. It gets to be unpleasant and complex to deal with the whole monetary bookkeeping part by labor. In this manner, SAP FI module has risen as a famous module effectively actualized in associations. SAP money related bookkeeping module accompanies a bundle that helps associations in taking care of monetary needs and bookkeeping exercises. It permits one to audit the money related status of an association continuously advertise. Prevalent segments that involve the FI module are:

  • Accounts Receivable
  • Accounts Payable
  • Asset Accounting
  • Account Consolidation
  • General Ledgers

SAP FI execution includes SAP FI setup. The business administrator can design SAP FI client in the wake of setting up couple of essential arrangements. These setups are generally done by the business chief adjusting to customer, organization, business territory arrangements and that’s just the beginning. From there on, right from expert information to budgetary explanations can be relocated to the SAP FI framework for driving the best out of sorted out money related administration framework. The prerequisites for SAP FI arrangement are diagram of records, financial year variations and coinage. Once the design is finished, the report posting will consequently be posted from that point. Ventures will have the capacity to view its continuous monetary status. This empowers undertakings to keep a track of each money related exchange and aides in account reporting toward the end of monetary year.

SAP Controlling (CO)

SAP Controlling Module and its Application:

SAP CO is another imperative module in SAP. SAP controlling incorporates SAP CO setup and SAP CO client and comprises of expert information, design and reporting. Expert information said here can be cost components, cost focuses, benefit focuses, interior requests, utilitarian territory, measurable key figures and movement sorts. Fetched components incorporate all the expense and income accounts, cost focuses and benefit focuses incorporate all the departmental units that handle cost and benefit of an endeavor, interior requests incorporate all the vital occasions et cetera. SAP CO execution permits one to see the information of costs included inside inner administration. This module offers you some assistance with getting a superior perspective of account reporting and offers you some assistance with managing records and take different choices identified with the association. Additionally this module empowers associations to oversee reporting and data information base according to the necessity for their business. The absolute most invaluable certainties about SAP execution in associations are:

  • Track cost heads and make future arrangements as needs be
  • Keep a track of expenses for particular occasions and relegate them to proper divisions
  • Avail movement based costing crosswise over procedures
  • Manage item costing, creation expenses and changes
  • Build gives an account of offers and gainfulness guaranteed through an item or an inner estimation
  • Build gives an account of offers and gainfulness guaranteed through an item or an outside estimation

SAP CO MODULES

Sub-Components of SAP CO Module:

  • SAP CO-OM: Overhead Management
  • SAP CO-OM-CCA: Cost Center Accounting
  • SAP-CO-OM-OPA: Internal Order Accounting
  • SAP-CO-OM-CEL: Cost Element Accounting
  • SAP-CO-OM-ABC: Activity Based Costing
  • SAP-CO-PCA: Profit Center Accounting
  • SAP-CO-PA: Profitability Analysis
  • SAP-CO-PC: Product Costing

Experts need a complete diagram of SAP FICO so as to wind up an effective FICO specialist. Money related Accounting and Controlling is between related and helps one to deal with a superior business process towards better fund bookkeeping and information administration. SAP usage is unpredictable and requires sufficient preparing. Thought it is not obligatory to take up SAP FI specialist preparing and SAP CO advisor preparing, it is generally prescribed by specialists to go to SAP FICO preparing to upgrade one’s understanding on the same and assemble master hands on utilizing SAP FICO module towards better administration of money book

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