Preface – This post is part of the SAP FI series.
Table of Contents
What is SAP FICO?
SAP FICO stands for SAP Financial Accounting and Controlling. It covers the entire business process of finance accounting and management accounting. SAP FICO is one of the prime module in SAP ERP and it can be integrated with other SAP modules like SAP MM, SAP SD, SAP PP etc.
Sub-components of SAP FI
- SAP FI General Ledger accounting
- Asset Accounting
- Funds Management
- Accounts Receivables
- Accounts Payable
- Special Purpose Ledger
- Travel Management
- Bank Accounting
Sub Components of SAP CO
- Cost Element Accounting
- Profit Center Accounting
- Cost Center Accounting
- Internal Orders
- Profitability Analysis
- Product Cost Controlling
What is SAP S4 HANA Finance?
Previously known as Simple Finance, S/4 HANA Finance was the first component of SAP’s Business suite to be rewritten to run on in-memory HANA database. SAP S/4 HANA Finance is the combination of New GL with different category Extension Ledgers and complete Management Accounting solutions. It is used for real-time business intelligence.
Difference Between SAP FICO and S4 HANA Finance
|SAP FICO||SAP S/4 HANA Finance|
|SAP FICO works on ECC model.||SAP S/4 HANA Finance model is based on in-memory HANA database and works on cloud platform.|
|SAP FICO is the Finance and Cost controlling module in SAP ERP where FI stands for Financial Accounting and CO stands for Controlling. SAP FICO module is very robust and covers almost all business process encountered in various industries. It is one of the essential and widely implemented modules in SAP.||SAP Simple Finance was the former name of SAP S/4 HANA Finance.|
SAP S/4 HANA Finance is the area of the S/4 HANA suit dealing specifically with Finance Management solutions.
|SAP FI submodules:|
Account payableAccount receivable
|No option to create CDS Views||Data is calculated on the fly with cds views.|