SAP FICO stands for Financial Accounting and Controlling. SAP FICO is one of the most important module of ERP and both FI and CO modules stores the data of financial transactions.
SAP FI is used for external reporting such as Balance sheet, Profit and loss statements.. All the accounting relevant transactions made in Logistics LO, are posted to Financial Accounting and the data is passed on to Controlling CO.
SAP CO plays an important role for the management in making decisions. Controlling is used to represent the controlling activities of Cost Center accounting, Profit Center Accounting, Product costing and Profitability.
