SAP FICO (Budgetary Bookkeeping and Controlling) is a module inside the SAP ERP framework that centers on the monetary viewpoints of an organization.
It is like a budgetary supervisor and examiner inside a computer framework. Its work is to keep track of all the cash stuff in a company.
Financial Bookkeeping (FI):
General Record Accounting:Think of this as the company's primary monetary book. It records all exchanges, like deals, costs, or ventures, in one place.
Accounts Payable:Manages cash going out of the company.
Accounts Receivable:Deals with cash coming into the company. Tracks installments from clients or clients for items or services.
Asset Accounting:Keeps tabs on the company's important stuff, like buildings, apparatus, or vehicles. It tracks when they were bought, how much they're worth, and their deterioration over time.
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