Vendor Master – Part II – Company Code Data
In the previous post we discussed about the General Data part of the Vendor Master, in this post we will look into the company code part of the Vendor Master.
After we maintain all the information as explained in the previous post, the system navigates us to the screen as appearing under image 1.06
Image 1.06 – Accounting Info
This screen contains some more important fields as explained below:
Vendor accounting follows Subsidiary ledger and General ledger concept of accounting. Under this concept, a vendor account acts as a sub-ledger and in traditional accounting all the entries were initially posted to the sub-ledger and at period end used to transfer to the general ledger. But in SAP this transfer is done on real time basis. In order to make the transfer to general ledger in real time SAP has provided this field where we enter the general ledger account. All the entries posted to the vendor account are posted to this general ledger at the same time. This negates are requirement to reconcile sub ledger and general ledger.
The General Ledger assigned here are marked as Vendor Reconciliation Account in General Ledger master data. System allows only these accounts (marked as Vendor Reconciliation Account) for selection. These accounts can’t be posted to manually.
The Reconciliation account field can be made non editable during change using vendor master field status at activity level. This ensures that all amounts in vendor account are posted to one account consistently.
You specify this account number only for branch accounts. Items that you post using the branch account number are automatically posted to the head office account. The system records the branch account number in the line items. Neither transactions nor balances are kept in the branch account.
Refer explanation the previous post.
Maintain the above data and press enter to go ahead on the next screen as appearing in the Image 1.07
Image 1.07 – Payment Transaction
The screen contains following fields:
This is the default payment term with the vendor. This payment term is defaulted during various transactions like Purchase Order / Invoice booking etc. and can be changed at the time of entry.
This group enables control of cash discount and payment differences. The Tolerance Group and its relevant configuration is done is the following IMG Path:
Financial Accounting (New) > Accounts Receivable and Accounts Payable > Business Transactions > Outgoing Payments > Manual Outgoing Payments > Define Tolerances (Vendors)
Cr memo terms
To have the system default terms of payment for credit memos, you have to make an appropriate entry here. Credit memos in this context can be debit items posted to a vendor account.
Check Double Invoice
In case where we want to avoid duplicate entry of invoices, check this option. In case of FI vendor invoices (FB60) system verifies following fields to identify duplication:
In case of Logistic Invoice Verification (MIRO) system verifies amount in document currency as well in addition to above in order to identify duplication.
The configuration can be checked in Transaction Code OMRDC
IMG Path: Materials Management > Logistics Invoice Verification > Incoming Invoice > Set Check for Duplicate Invoices
The system only checks invoices. It does not check credit memos or subsequent credits/debits. If a previously created document is cancelled and then created again, the system does not display a message.
Here we maintain the payment method under which payment can be made to the vendor. This field becomes important in case of Automatic Payment Program where the vendor is verified for payment method against documents.
Maintain all the data and press enter and the system takes you to the next screen as appearing in Image 1.08
Image 1.08 – Correspondence Acctg.
Here in this screen, we maintain Dunning related data. Maintain all the data and click on save, the system creates new Vendor Master.
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