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).
