With INFORMATICS, you always have an overview of your SAP FI & SAP CO processes.
The core of every ERP system - and also of every economic process - is finance and accounting. The SAP system offers more than just the presentation of charts of accounts and seamless integration into the various process modules, it also ensures compliance with various legal regulations.
SAP FICO comprises the SAP ERP modules SAP FI (Finance Accounting) and SAP CO (Controlling) and enables efficient management of accounting and controlling.
The clear presentation in the SAP Fiori Launchpad simplifies the day-to-day tasks and business processes in finance and accounting in SAP S/4HANA.
SAP Finance | SAP FI
SAP FI is considered one of the oldest SAP modules and covers all business processes in finance and accounting in SAP R3 and SAP S/4HANA.
Financial accounting activities such as daily payment transactions (payment transactions, SEPA direct debit, SEPA credit management, automated payment transactions, and electronic account statements) are handled with the SAP FI module, as is the management of subledger accounting. Accurate mapping of accounts payable and accounts receivable, as well as master data maintenance and handling of the dunning system, are also guaranteed. The SAP standard also provides all functions of asset accounting (control, management, and monitoring of fixed assets).
Daily work with the SAP FI module is supported in particular by closing cockpits, reporting options, and posting templates. However, the necessary decision-making bases are also prepared in SAP ERP.
SAP Controlling | SAP CO
All primary controlling functions that ensure the coordination, monitoring, and optimization of business activities are covered in the standard version by the SAP CO module. This includes, among other things, overhead cost controlling (CO-OM), product cost controlling (CO-PC), profit and market segment accounting (CO-PA), and profit center accounting (EC-PCA). In practice, the focus is on functions related to cost object controlling and the creation of multi-level contribution margin accounting, cost center accounting, and cost element accounting.
The connection and data update from the modules to Controlling are automated, as are the customising options with regard to international accounting regulations such as IFRS and US-GAAP. Challenges in the area of accounting in foreign currencies or with tax regulations can be presented uniformly and clearly by means of country-specific settings and thanks to a solution available in the standard.
The fully integrated connection between SAP CO and other logistics modules ensures that all logistics data relevant to cost accounting is also processed in the appropriate context.
SAP FICO: The perfect combination of finance and controlling
The SAP FI and SAP CO modules were originally developed as separate units. Over time, however, SAP recognized how closely intertwined accounting processes are. That is why both areas are now considered an integrated overall module called SAP FICO.
The transition between financial accounting and controlling is virtually seamless in modern business processes. Many tasks, particularly in the area of financial reporting, affect both modules simultaneously. For this reason, a joint approach is almost always recommended for implementation in practice. Only an integrated introduction ensures that companies can exploit the full potential of data consistency and process continuity.
Do you have any questions?
Our colleague Klaus Augner will be happy to answer any questions you may have.
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