Introduction What is an ERP system? And why should businesses use it? Today, small and medium-sized businesses (SMEs) also face some of the problems that large enterprises do. One of them being planning and managing their resources. SMEs face similar complexities but have limited resources to deal with them. Small businesses (like their bigger counterparts) have to: Do accounts to track their sales/purchases. Do their taxes. Pay their employees. Manage deliveries within promised timelines. Deliver quality goods and services. Communicate with customers, answer their queries. Large enterprises invest millions of dollars in highly sophisticated systems like SAP. SAP and similar systems are able to handle requirements from these large enterprises to bring their multi-country , multi-company , multi-currency , global businesses into a single platform. This has helped them achieve consolidation of data/records in the fundamental processes such as accounting, taxation,...
SAP FI has a collection of submodules, as depicted in the following screenshot − Finance Accounting - General Ledger A General Ledger contains all the transaction details of a company. It acts as the primary record to maintain all accounting details. Common general ledger entries are customer transactions, purchases from vendors, and internal company transactions. Common T-codes that are used to maintain G/L accounting − F-06 F-07 FBCJ FB50 FB02 Finance Accounting - Accounts Receivable and Payable (AR / AP) It includes the details of amount that is paid by the customer and the amount that is paid by company to the vendors. In other words, AP includes all the vendor transactions and AR includes all the customer transactions. Common SAP AR T-codes − FD11 FD10 FRCA VD01 Common SAP AR Tables − KNA1 KNVV BSIW Common SAP AP T-codes − XK01 MK01 MK02 FCHU Common SAP AP Tables − LFA1 LFM2 LFBK Finance Accounting Asset Accounting Asset Accounting deals with all...
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