What is SAP FI ? SAP Financial Accounting (FI) is the core module where all the financial processing transactions are captured. This is the module that is used to create statutory Financials Statements for external reporting purposes. Functions in SAP FI can primarily be divided into General Ledger Accounting (G/L), Accounts Receivable and Accounts Payable(AR/AP) processing, and Fixed Asset Accounting(AA). What What is SAP CO ? SAP Controlling module helps provide operational information to the management of a company to support business analysis and decision-making. CO represents the internal accounting viewpoint of an organisation. It provide information to managers to help manage costs and operations of the organization. SAP refers External Accounting as “Financial Accounting”(SAP-FI) while Internal Accounting is referred as Managerial accounting(SAP-CO). what is Account Payable? When a company orders and receives goods or services in advance of paying for them, we say