Start Your Career as A SAP Fico Consultant

SAP FICO is one of SAP ECC's major functional components, allowing businesses to handle all of their financial data. SAP FICO assists businesses in generating and managing financial documents as well as developing reports to aid business planning and decision-making.
The record-keeping system of a company's financial data with debit and credit accounts is known as general ledger accounting. It keeps track of every financial transaction that occurs during the course of a business's existence. The common transactional data is separated into accounts for assets, liabilities, owner's equity, revenues, and expenses based on the type of transaction.
Account Receivable: Account receivable keeps track of and maintains all client accounting data. Separate customer accounts will be maintained in this sub-module, and when transactions are transferred to the customer's accounts, the general ledger reconciliation accounts will be updated.

SAP CO configuration and user specs are two of the most significant modules in SAP. Master data, configuration, and reporting are all included in this module. When we talk about master data, we're referring to cost elements, cost centres, profit centres, functional regions, statistical numbers, and activity categories, to name a few. When SAP CO is installed, users can see statistics on internal costs. SAP CO not only assists customers in obtaining a comprehensive perspective of financial reporting, but it also assists them in managing their records and making important informed decisions. Businesses can also handle reporting and information databases according to their requirements.