Introduction or Basic of SAP FICO (S4HANA)

Introduction or Basic of SAP FICO (S4HANA)
SAP FI stands for Financial Accounting and it is one of important modules of SAP ERP. It is used to store the financial transaction of an organization. SAP FI helps to analyze the financial status of a company.
SAP FICO is a module of SAP ERP which is used for financial reporting both externally and internally
SAP FI is a submodule of SAP FICO.
To understand process of SAP FI functionality use and implementation. It is divided in many sub-module or we can say that
SAP FI module mainly deals with the following financial components
1. Enterprise Structure
2. General Ledger Account
> Manages all general ledger accounts.
> Records all financial transactions, ensuring data accuracy and consistency.
3. Account Receivable
>Manages customer transactions.
>Tracks incoming payments and outstanding receivables.
4. Account Payable
>Manages vendor transactions.
>Tracks outgoing payments and outstanding payables.
5. Bank Accounting
>Manages bank transactions
>Facilitates bank reconciliation
6. Cash Accounting
7. Integration with SD
8. Integration with MM

SAP Controlling (CO) is another important SAP module offered to an organization. SAP CO are managing and configuring following master data
1. Cost Element
>Tracks and categorizes costs.
>Provides detailed cost reporting
2. Profit Centers
3. Internal Orders
>Manages costs for specific projects or tasks.
>Tracks budgets and actual costs
4. Cost Center
>Manages costs within specific departments or units.
>Analyzes cost center performance
5. Asset Accounting
>Manages company assets.
>Tracks asset acquisition, depreciation, and disposal.5. Activity Based costing
6. Product Costing
7. Profitability Anasysis
>Analyzes profitability by products, customers, or market segments.
>Provides detailed profit and loss analysis.

This is an introductory tutorial that covers the basics of SAP FICO and how to deal with its various modules and sub-modules.