What is under FI and CO in SAP?

SAP FICO Tutorial Summary SAP FICO is the Finance and Cost controlling module in SAP ERP, where FI stands for Financial Accounting, and CO stands for Controlling.

What does SAP co mean?

SAP FICO Stands for FI (Financial Accounting) and CO (Controlling). SAP FICO is the important module of ERP and both FI and CO modules stores the complete financial transaction data of an organization.

What is the SAP FI?

SAP FI stands for Financial Accounting and it is one of important modules of SAP ERP. It is used to store the financial data of an organization. SAP FI helps to analyze the financial conditions of a company in the market. It can integrate with other SAP modules like SAP SD, SAP PP, SAP MM, SAP SCM, etc.

What is difference between SAP FICO and simple finance?

SAP FICO vs. The main difference between SAP FICO and S4 HANA Finance is the technology used in them. SAP FICO works on the ECC model, while SAP S4HANA Finance (Simple Finance) is based on the in-memory HANA database which works on cloud technology.

What is difference Co and fi?

The short answer to that question is that FI refers to financial accounting, and CO to controlling, or managerial accounting.

How data flow from FI to CO in SAP?

Every cost related transaction from Financial Accounting (FI) will be carried over to Controlling (CO) by Primary Cost element only. A Primary cost element can be directly posted. Primary cost element is linked to a G/L account and must be created in the FI Chart of Accounts first.

What is fi co reconciliation in SAP?

Overview. This function reconciles the internal posts from CO to FI. You can use the Real-Time integration to transfer cross-company code or cross-functional area postings made in CO that are relevant to FI and to automatically create reconciliation postings in FI.

What does S 4 stands for in SAP?

SAP Business Suite 4 SAP HANA
SAP S/4HANA stands for: SAP Business Suite 4 SAP HANA. It brings the next big wave of innovation to SAP customers, similar to the transition from SAP R/2 to SAP R/3.

Which SAP is used for accounting?

The SAP FI module is the most popularly used module for financials and accounting. Diverse accounting tasks such as maintaining ledgers, balance sheets, and profit and loss statements etc., are managed automatically by SAP ERP solutions.

What is co in SAP?

SAP CO (Controlling) is a function which provides you with information for company management decision-making. SAP CO facilitates co-ordination, monitoring and optimization of all process in an organization.

What is SAP FI?

SAP FI is the important module of all SAP implementations. SAP FI ( Financial Accounting ) is used for external reporting i.e Balance sheet, Profit and Loss statements.

What is SAP financial?

SAP Financial Accounting (SAP FI) module is the back bone of SAP accounting as it records financial transactions of all movements of goods, services and all other business transactions between the company and its customers and vendors.