Eminent IT Solution is one of the best SAP Training Institute in Indore. We are one of the best SAP Consultants which have completed 17+ years in SAP. SAP FI Module and its Application SAP Controlling Module and its Application Sub-Components of SAP CO Module:
SAP is one of the largest providers of enterprise software application towards better enterprise resource planning. SAP stands for Systems, Applications, and Products in Data Processing. Back in 1972, SAP was founded launching business solutions that help organize processes in enterprises. Over the years, different modules in SAP were developed for different processes. SAP Finance and Controlling (FICO) is one of the most widely used SAP modules. eminent it solution is one of the best institute to provide sap fico training. We provide best SAP FICO Certification training as we have certified SAP FICO Consultants. SAP FICO module includes SAP FI configuration, SAP CO configuration, SAP FI user and SAP CO user. Anyone looking forward to begin their career as an SAP FICO consultant needs to build a strong base covering all these aspects of SAP FI module and SAP CO module. Let’s have an overview of SAP FI and SAP CO module.
SAP FI Module and its Application
SAP Financial Accounting as the term suggests upgrades finance management in enterprises. Finance is the most critical part of every business and this aims at the perfect management of finance. It becomes stressful and complex to manage the entire financial accounting part by man-power. Therefore, SAP FI module has emerged as a popular module successfully implemented in organizations. SAP financial accounting module comes with a package that helps organizations in handling financial needs and accounting activities. It allows one to review the financial status of an organization in real time market. Popular components that comprise the FI module are:
SAP FI implementation involves SAP FI configuration. The business manager can configure SAP FI user after setting up few primary configurations. These configurations are usually done by the business manager aligning with client, company, business area configurations and more. Thereafter, right from master data to financial statements can be migrated to the SAP FI system for driving the best out of organized financial management system. The requirements for SAP FI configuration are chart of accounts, fiscal year variants and currencies. Once the configuration is completed, the document posting will automatically be posted thereafter. Enterprises will be able to view its real-time financial status. This enables enterprises to keep a track of every financial transaction and helps in finance reporting at the end of fiscal year.
SAP Controlling Module and its Application
SAP CO is another important module in SAP. SAP controlling includes SAP CO configuration and SAP CO user and consists of master data, configuration and reporting. Master data mentioned here can be cost elements, cost centers, profit centers, internal orders, functional area, statistical key figures and activity types. Cost elements include all the cost and revenue accounts, cost centers and profit centers include all the departmental units that handle cost and profit of an enterprise, internal orders include all the important events and so on. SAP CO implementation allows one to view the data of costs involved within internal management. This module helps you get a better view of finance reporting and helps you manage records and take various decisions related to the organization. Also, this module enables organizations to manage reporting and information database as per the requirement for their business. Some of the most advantageous facts about SAP implementation in organizations are:
1. Track cost heads and make future plans accordingly
2. Keep a track of costs for specialized events and assign them to appropriate departments
3. Avail activity based costing across processes
