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SAP FICO stands for Financial Accounting and Controlling. It is an essential module of ERP and FI and Co modules stores the transactional and financial data.
- SAP FI (financial Accounting) is used in external reporting I.e. P&L statements and Balance sheet.
- SAP FICO Module incorporates with the other different modules of SAP like MM-(Material Management), SD-(Sales & Distribution), PP- (Production Planning), PM- (Plant Maintenance), and PS-(Project Systems).
- SAP FI (financial Accounting) Module obtains postings from the different modules like Materials Management, Sales & Distribution, and Human Resource) by integration.
- All the accounting-relevant transactions made in logistics (LO) are posted real-time to Financial Accounts by automatic account identification. This data also can be passed to Controlling (CO).
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