Jun
20
2012

What is SAP FICO?

What is SAP FICO : A BRIEF INTRODUCTION & OUTLINE
In today’s world of innovation through Information Technology, SAP is truly a dynamic package by which one can integrate, diversify, and streamline their work-processes with multi-dimensional compatibility.
SAP – “Systems, Applications, and Products in Data Processing” – was founded in 1972 with its headquarters in Walldorf, Germany.
For those who are in the Finance/Accounting Profession who wish to delve into a creative and interactive scenario by which they can apply their hands-on experience & expertise to another level of fantastic intellectual stimulation, SAP FI/CO Implementation & Configuration is truly the ultimate.  Their expertise will render them to very swiftly master its technical configuration – for the  concepts are all part of every Finance/Accounting Professional’s innate thought-process – and – the SAP modules follow a thorough schematic pattern by which all functionality & technicalities are logically laid-out.
What is SAP FICO
What is SAP FICO?:
SAP Financial Accounting (FI) is an important core module where in live-time, the financial processing transactions are all captured to provide the basis via which data is drawn for external reporting.  This SAP FI Module is integrated with many parallel modules that enable a company to unify processes that may have needed the utilization of many software packages.  Other Modules of SAP that commonly find a role of integration with FI are (but not limited to) Material Management (MM), Sales & Distribution (SD), Human Resources (HR), Product Planning (PP), Controlling (CO), etc.   Among these CO – Controlling is another major focus for those coming from the Finance/Accounting/Auditing/Budgeting and Financial Reporting/Analysis Backgrounds/Professions.
SAP FI:  There are many sub-modules that streamline and specialize in each aspect of the Financial
Accounting Processes as below:
AA – Asset Accounting
AP – Accounts Payable
AR – Accounts Receivable
BL – Bank Accounting
FM – Funds Management
GL – General Ledger Accounting
LC – Legal Consolidations
SL – Special Purpose Ledger
TM – Travel Management
Out of the above, FI-AR, FI-AP, & FI-AA are the three sub-modules that send simultaneous
postings to FI-GL.

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