SAP FICO is the combination of two SAP modules which are SAP FI & SAP CO. In addition, this module is the central component of the finance module and it helps companies manage their financial data. It is useful for both external and internal financial reporting and it records all the financial transactions in the business.
Components of SAP FI
Below are the significant components of SAP FI.
- Account Payable- This sub-module captures all the transactions related to vendors and administers the data for them.
- Account Receivable- This sub-module captures all the transactions regarding the customer accounts.
- Asset Accounting- It manages all the transactions related to assets and helps in managing fixed assets with SAP.
- Bank Accounting- It handles the accounting transactions regarding the Bank and processes incoming & outgoing payments.
- Funds Management- It manages the funds in an organization and budgets all the revenues & expenses.
- General Ledger- This sub-module provides businesses with an overall picture of external accounting & accounts.
- Travel Ledger- This sub-module facilitates easy management of requests, planning, booking trips, and expenses.
Components of SAP CO
Below are some of the significant components of SAP CO.
- Cost Element Accounting- It is useful for managing the structure of revenues and expenses and makes them necessary.
- Cost Center Accounting- This sub-module reflects the organizational structure and defines the basis for other modules.
- Internal Order- It is useful for representing various projects like Research and Development projects or Exhibition Events.
- Product Costing- This sub-module estimates the cost and helps in planning and analyzing costs and their different components.
- Cost Object Controlling- It is useful for those businesses that produce goods and services within the Production planning.
- Profitability Analysis- This SAP sub-module doesn’t consist of any template and users can structure it as per their specific needs.
What Will You Learn in the SAP FICO Training Course?
The SAP FICO training Course will be highly beneficial for those who fish to pursue a career in the SAP FICO domain. In addition, this training is conducted by highly experienced and skilled working professionals who will train you from the very scratch level. Furthermore, this training will help you understand the end-to-end implementation of the SAP FICO module in any organization. After the completion of this course, you are sure to improve your chances of becoming a SAP FICO consultant and making a successful career in SAP. Here are some of the SAP FICO Course Details you should know before enrolling in this training.
- You will learn the documentation and methodology for SAP FICO projects.
- This course will teach you Global settings and Enterprise structure settings.
- You will learn how to configure the G/L, A/P, A/R, and Asset Accounting.
- You will learn how to integrate the SAP FICO with SAP MM and SAP SD.
- This course will provide you with a head start in complex technologies.
- You will get hands-on experience with the SAP system.
- This course will teach you how to clear the SAP FICO certification exam.
- The SAP FICO course will equip you with everything necessary to become an SAP FICO Consultant.
Conclusion
SAP FICO is the combination of two SAP modules which are SAP FI & SAP CO. Furthermore, this module is the central component of the finance module and it helps companies manage their financial data. SAP FICO training is highly beneficial for you as you will learn how to integrate the SAP FICO with SAP MM and SAP SD. In conclusion, this SAP FICO Course will provide you with a head start in complex technologies and will equip you with everything necessary to become an SAP FICO Consultant.