SAP or Systems Applications and Products in Data Processing is one of the most widely used software in the world across various industries. It is probably the most used enterprise resource planning software and incorporates all the key functions of a business. SAP has various modules that are dedicated to a particular area of the business. SAP systems need skilled professionals to operate it smoothly and efficiently. For that proper training and hands-on knowledge is very important.
SAP FICO is the module that controls the financial accounting and controlling of any company. FI that stands for financial accounting and CO stands for control. It is a very robust module and covers almost all the business processes encountered in different industries. The module is used for both external and internal reporting. It records all financial transactions that are posted and produces financial statements that are very accurate at the end of the trading period.
There are various important sub-modules that are widely used. Modules such as accounts receivables, accounts payables, general ledger accounting, asset accounting, the bank accounting and a lot more.
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