SAP FI CO stands for Financial Accounting and Controlling. It is an important module of Enterprise Resource Planning (ERP) and both the modules store financial transaction data.
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SAP FI module helps professionals manage data involved in any business and financial transactions in one system. The module functions are efficient for reporting and legal requirements and work effectively for businesses of all sizes. It also helps the user to get the real-time position of the enterprise within the marketplace.
SAP CO is the controlling module that supports the processes of planning, monitoring and reporting the operations of businesses, involving methods to view and organise the costs that are needed for financial reporting.
The controlling module allows the user to manage and configure master data that covers all elements of costs, including planning, tracking and reporting, among other areas.
SAP FICO is utilised by several IT professionals, including Business Analysts.