SAP Financial Accounting and SAP Controlling (SAP FICO)

SAP Financial Accounting

SAP FI remains for Financial Accounting and it is one of imperative modules of SAP ERP. It is utilized to store the money related information of an association. SAP FI breaks down the money related states of an organization in the market. It can coordinate with other SAP modules like SAP SD, SAP PP, SAP MM, SAP SCM, and so on.

SAP Controlling (CO) is another vital SAP module offered to an association. It underpins coordination, observing, and enhancement of the considerable number of procedures in an association. SAP CO incorporates overseeing and designing expert information that spreads cost and benefit focuses, inward requests, and other cost components and utilitarian regions. This is an early on instructional exercise that covers the rudiments of SAP FICO and how to manage its different modules and sub-modules. SAP FI remains for Financial Accounting and it is one of vital modules of SAP ERP. It is utilized to store the money related information of an association. SAP FI dissects the money related states of an organization in the market. It can incorporate with other SAP modules like SAP SD, SAP PP, SAP MM, SAP SCM, and so on.

SAP FI includes the accompanying sub-parts;

• Finance Accounting General Ledger.
• Finance Accounting Accounts Receivable and Payable.
• Finance Accounting Asset Accounting.
• Finance Accounting Bank Accounting.
• Finance Accounting Travel Management.
• Finance Accounting Fund Management.
• Finance Accounting Legal Consolidation. 

Uses SAP FI in various fields?

SAP FI module empowers you to oversee budgetary bookkeeping information inside a universal system of numerous organizations, monetary standards, and dialects. SAP FI module for the most part manages the accompanying monetary segments.

• Fixed asset
• Accrual
• Cash journal
• Accounts receivable and payable
• Inventory
• Tax accounting
• General ledger
• Fast close functions
• Financial statements
• Parallel valuations
• Master data governance

SAP FI specialists are primarily in charge of actualizing Financial Accounting and Cost Accounting with SAP ERP Financials.

SAP Controlling

SAP Controlling (CO) is another essential SAP module offered to an association. It underpins coordination, observing, and advancement of the considerable number of procedures in an association. SAP CO includes recording both the utilization of generation factors and the administrations gave by an association. SAP CO incorporates overseeing and arranging expert information that spreads cost and benefit focuses, interior requests, and other cost components and utilitarian zones. The fundamental motivation behind SAP controlling module is arranging. It empowers you to decide differences by contrasting real information and plan information and along these lines empowers you to control business streams in your association.

The key sub modules of SAP controlling framework are as follows:

Cost Element Accounting:Cost and Revenue Element Accounting gives you a review of the expenses and incomes that happen in an association. The vast majority of the qualities are moved consequently from Financial Accounting to Controlling. Cost and Revenue Element Accounting just ascertains costs which either don't have another cost or just a single cost in Financial Accounting.

Cost Center Accounting:

Cost Center Accounting is utilized for controlling purposes inside your association.

Activity-Based-Accounting:

It is utilized to break down cross-departmental business forms.

Internal Orders:

Inward requests in SAP CO are utilized to gather and control as indicated by the activity that acquired them. You can relegate spending plans for these occupations that is framework checked to guarantee that they are not surpassed from the set spending plans.

Product Cost Controlling:

It computes the cost for fabricate an item, or to give an administration. It enables you to ascertain the cost at which you can productively promoted it.

 Profitability Analysis:

It is utilized to investigate the benefit or loss of an association by singular market sections. Benefit Analysis gives a premise to basic leadership. For instance, it is utilized to decide value, molding, client, dispersion channel, and market section.

Profit Center Accounting:

It is utilized to assess benefit or loss of individual, autonomous territories inside an association. These zones are in charge of their expenses and incomes.

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