SAP FICO (Financial Accounting and Controlling)
SAP FICO is used to store and control the financial information of the organization. FICO is one of the most important modules as it is used to analyze the financial condition of the company in the market. It can integrate with other SAP modules such as SAP MM, SAP SD, SAP PP, SAP SCM, etc.
The sub components of SAP FICO are as follows:
- Financial accounting General Ledger: It is a set of accounts a business uses to keep track of its financial transactions and create reports.
- Financial accounting Accounts receivable and payable: Accounts payable is the amounts the company owes for buying goods or services from a vendor and accounts receivable is the amount the company has to receive for supplying goods and services to a customer.
- Financial accounting asset: It is managing and supervising the fixed assets the company owns.
- Financial accounting bank accounting: This component is used to handle transactions that you process with your bank.
- Financial accounting Travel management: This has a complete integrated management of all processes involved in a business trip.
- Financial accounting Fund Management: It interacts with various modules of SAP to get fund details.
- Financial accounting Legal Consolidation: for a company with multiple units, legal consolidation helps to view all details in a single financial statement.
Below are some transaction codes for SAP FICO module:
F110 -> Parameters for automatic payment
FB60 -> Enter incoming invoices
PR00 -> Travel expenses
FB01 -> Post document
FTXP -> Maintain tax code
Below are some basic tables SAP FICO module:
SKA1 -> General Ledger accounts (Chart of Accounts)
SKAT -> General Ledger accounts (Chart of accounts: Description)
SKB1 -> General Ledger accounts (Company codes)
KNBK -> Bank details
KNVP -> Customer partners
KNVK -> Contact persons