Intro

Both SAP FI & CO are two very popular modules of the SAP ERP. Using these two modules an organization can easily create financial statements and improve its profitability. Moreover, these two modules also help a firm easily tackle changes in its environment and improve its profitability. In short, it is worthwhile for an organization to use two remarkable modules of SAP ERP software. But what is the difference between these modules? So, to answer this question today we are sharing with you everything that you need to know about these two incredible modules of SAP ERP.

Here is everything that you require to know about these two fantastic modules of SAP ERP software.

What Is SAP FI?

It is a remarkable module of SAP ERP software that enables an enterprise easily make financial statements. For instance, you can use it for making financial statements like balance sheets, P&L statements, etc. Moreover, it also helps firms in doing financial analysis and reporting found insights to top management. Overall, it is a fantastic module of SAP and can make it very easy for an organization to make financial reports. To learn how to make different types of financial statements using the FI module feel free to join our SAP FI Training program.

Important Modules

Following are some of the most popular sub-modules of the financial accounting module of SAP:

• General Ledger
• Accounts Receivables
• Accounts Payable
• Bank Ledger
• Asset Accounting
• Consolidation
• Funds Management
• Special Purpose Ledger
• Travel Management

What Is SAP CO?

SAP Controlling (CO) is another phenomenal module of SAP ERP software. The main aim of the module is to help an organization in planning, monitoring & reporting the costs of its operations. The module comes with many great tools using which an organization can easily plan and reduce its operations costs. Moreover, the module also enables an organization in improving its overall profitability. Apart from this, the CO module also helps an enterprise in improving its workflows. Thus, any organization that seeks to improve its workflows and enhance its profit must use SAP CO.

Important Modules

Following are some of the most popular sub-modules of the Controlling module of SAP:

• Cost Elements
• Cost Centers
• Profit Centers
• Internal Orders
• Profitability Analysis
• Product Costing

SAP Financial Accounting vs SAP Controlling

Following are the key difference between these two amazing modules of SAP ERP:

Financial Accounting module enables a firm to easily manage its financial data and create financial statements. On the other hand, the Controlling module enables a firm in planning, monitoring & optimizing its operations costs.

The main aim of the Financial Accounting module is to help a firm easily create financial statements. On the other hand, the aim of the CO module is to help a firm in optimizing its costs and improves its productivity.

With the help of the FI module, a firm can easily do financial analysis to find hidden insights. On the other hand, the SAP CO module helps a firm in optimizing its workflows by reducing its financial costs. To learn how to find hidden insights in financial data with the help of the Financial Accounting module feel free to join our SAP FI Online Training program.

Conclusion

Both SAP FI and CO are two robust modules of SAP ERP. The first module helps a firm in creating financial statements while the latter helps it in improving its profitability. Thus, no organization can underestimate their importance and significance. So, do use these exemplary modules of SAP if you want to take your business to new heights. You will not regret using these two amazing modules of SAP ERP in your organization.