SAP FICO stands for (Financial Accounting and Controlling), SAP Financial Accounting and Controlling module can be integrated with all other SAP modules include Material Management, Sales and distribution, Production planning, Human resource Management, Material Management etc.
The SAP FI Module has the capability of meeting all the accounting and financial needs of an organization. It is within this module that Financial Managers as well as other Managers within your business can review the financial position of the company in real time as compared to legacy systems which often times require overnight updates before financial statements can be generated and run for management review.
The real-time functionality of the SAP modules allows for better decision making and strategic planning. The FI (Financial Accounting) Module integrates with other SAP Modules such as MM (Materials Management), PP (Production Planning), SD (Sales and Distribution), PM (Plant Maintenance), and PS (Project Systems).
The FI Module also integrates with HR (Human Resources) which includes PM (Personnel Management), Time Management, Travel Management, Payroll. Document transactions occurring within the specific modules generate account postings via account determination tables.
SAP FICO Financial Accounting and Controlling Module is a combination of two ERP modules, i.e., Finance Accounting (FI) and Controlling (CO) and this FICO module is used in financial fields to generate analytical reports.
This Tutorial for beginners explains what SAP FICO. This Online Tutorial gives brief understanding of SAP Financial Accounting and Controlling module concepts and with examples,
SAP FICO Tutorial – SAP FICO is the Finance and Cost controlling module in SAP ERP whereas name FI stands for Financial Accounting and CO stands for Controlling. Learn SAP FICO Module for free of cost. This topics and tutorials … Read More
We have to enter the exchange rates to all exchange rate types if necessary or if you are following one type of rate,
we can maintain the rates for that type only.
Automatic clearing in SAP is one of the functionality used to clear the accounts with open and clear items. And further used group the open items basing on some criteria and clears them according to the criteria.
The SAP FI module (Financial Accounting) is designed to capture organizations business transactions in a manner that will satisfy external reporting requirements. Local legal considerations are pre-delivered with the system and the ability to manage and report on multiple companies … Read More
A contract is a longer-term agreement with a vendor (one of the two forms of “outline agreement” in the SAP system) to supply a material or provide a service for a certain period of time. A number of … Read More
To Define Chart of Accounts : The chart of accounts in SAP (COA) is nothing but list of GL accounts used by the company. There are three types of chart of accounts.1), Operative chart of accounts 2),Country specific chart … Read More
Material Ledger Multiple Currency: The system stores valuation data for a material in its material ledger in up to three currencies. You specify in which currencies the system stores this valuation data in Customizing for Valuation and Account Assignment.
When … Read More