What is a FICO Module?

A FICO module is a tool used in Systems, Applications and Products in Data Processing, or SAP. FICO modules are used for information technology through SAP, which is a package mainly employed for financial accounting.

Purpose

Companies use SAP to integrate, diversify and streamline work. It is a program package offering two main sub-modules: FI and CO. These are used for managing financial information and for analyzing the information.

Types

FI is a sub-module allowing financial transactions to be captured in real time. It allows companies to integrate this information even if the company's current software doesn't allow it. CO is the other sub-module that is part of the FICO module. CO is short for controlling and is used for performing analysis on financial reports and information.

Functions

The FI sub-module contains many different functions of financial accounting. Each of these functions is a sub-module of FI. These include general ledger accounting, accounts receivable, accounts payable and special purpose ledgers. The CO sub-module contains functions such as overhead cost controlling, product cost controlling, and sales and profitability analysis.

References

• Kania School of Management: FI/CO Overview
• Comter: SAP FI/CO A Brief Introduction and Outline