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,
General Ledger Master Data in SAP FICO: In SAP, the basic element of the master data structure in the General Ledger is the chart of accounts, which is assigned to a company code and contains the master list of general … Read More
SAP CO Module (Controlling) Module provides supporting information to Management for the purpose of planning, reporting, as well as monitoring the operations of their business. Management decision-making can be achieved with the level of information provided by this module.
Some … Read More
SAP Functional Location are elements of a technical structure (for example, functional units within a system). The business object functional location is an organizational unit within Logistics options, that structures maintenance objects for a company according to functional, process-related or … Read More
SAP Cost center Accounting are used to track where cost occur in the organization. As costs are incurred, they are assigned or posted to the appropriate cost center. The posting and assignment of costs to cost centers is a critical … Read More
1. Path : Accounting -> Financial Accounting -> Accounts Payable -> Environment -> Current Settings -> Enter Exchange Rates
2. Below pop-up box will be appeared.… Read More
SAP transaction Tcode VF03 (Display Billing Document) is classified in the module Sales and Distribution (SD) under application component Billing and runs Application development R/3 invoice program SAPMV60A upon execution.
1.Go to SAP Tcode VF03 … Read More
SAP transaction Code FB1S (Clear G/L Account) is classified in the Financial Accounting module under application component General Ledger Accounting and runs Documentation FI General Ledger program SAPMF05A upon execution.
• This transaction is used to clear open item … Read More