SAP FICO refers to two different modules in SAP; they are SAP FI and SAP CO. Both modules are accounting processes related. SAP FI module is the main data source for SAP CO module. FI module focused on external reporting and CO module focused on internal reporting. So both are combined and known as FICO.Here is an introduction tutorial about both modules and their sub components.
SAP FI module
SAP FI (Financial accounting) module is one of the important core modules in SAP ERP for financial transaction processings.MM, SD, HR, PP and Co module are highly linked with SAP FI module component.
The main sub modules in SAP Financial accounting are
- AA: Related to Asset Accounting
- AP: Related to Accounts Payable
- AR: Related to Accounts Receivable
- BL: Related to Bank Accounting
- FM: Related to Funds Management
- GL: Related to General Ledger Accounting
- LC: Related to Legal Consolidations
- SL: Related to Special Purpose Ledger
- TM: Related to Travel Management
SAP CO Module
SAP CO (controlling) is for Managerial Accounting processes. It provides reports like cost centers, contribution margins and profitability for the management. SAP CO module is highly integrated with FI, AA, SD, PP, and HR modules.
The main sub components of controlling module are
- Cost Element Accounting
- Cost Controlling
- Cost Center Accounting
- Internal Orders
- Activity-Based Costing
- Product Cost Controlling
- Profitability Analysis
Profit Center Accounting