SAP FICO Overview?
SAP FICO is a module used for financial reporting both externally and internally. The objective is to record all financial transactions that are posted by an entity and produce financial statements that are accurate at the end of the trading period. Full form or SAP FICO stands for FI (Financial Accounting) and CO (Controlling). This tutorial is going to explain the major functionalities with SAP FI module.
SAP FI is made up of sub modules. The sub-modules that are often used are accounts receivables, accounts payables, asset accounting, general ledger Accounting and bank accounting.
All the sub modules are interlinked and integrate in real time. A trial balance can be extracted at an time and it will always balance because all the sub modules are connected. The diagram below shows the the integration between SAP FI Modules.