I’ve just been laughing to myself how odd coders must sound when discussing technical stuff. My wife just read an answer to a question in the ABAP Objects course and gave me the most confused of looks. Here’s what she read… Hi Peter (and class), On the right hand side of the first slide of […]
OVERVIEW Hello and welcome to this SAP Financials and Controlling (FICO) monster article. This article has been created for anyone who wants to understand Financials and Controlling. Specifically, this article targets the following audience: Graduates who have basic understanding of finance and financial terminology and want to learn FICO. SAP Consultants with technical knowledge of […]
I have just released a new book – “BEGINNER’S GUIDE TO SAP” and I want you to have it for free. The book will be available to all Kindle readers on March 13th – 14th. Amazon usually go by Pacific Standard Time so keep this in mind when trying to get it. Here is a […]
This series of articles provides a comprehensive look at the popular Enterprise Resource Planning (ERP) system known as SAP. It is suitable for individuals who are unfamiliar with SAP, or those who have some experience with it, and is particularly directed at consultants, developers, business analysts, and end users. In this article, we will explore […]
SAP allows all the transactions made by a business to be recorded so as to use that information to make managerial decisions. Every business needs to make payments to its vendors, and also to its customers in case the goods have been returned for which the payment had been made earlier. It becomes difficult to track which payments are due to be made and then to process these payments manually.
SAP takes care of this by means of the Automatic Payment Program. The Automatic Payment Program calculates which line items are due for payment and then processes the payment by one of the various methods that are defined in the Automatic Payment Program configuration. The Automatic Payment Program also allows netting of line items i.e. in case payments have to be made as well received from the same business partner, and then SAP determines the net value of the payment to be made or received and accordingly processes the business transaction.
The Automatic payment program makes use of the payment terms that are defined in the vendor and customer masters to determine which line items are due for payment.
STEP 1: Navigate to the SAP menu as shown in the screenshot below or execute the transaction code F110 to display the Automatic Payment Program screen.
STEP 2: It is required to maintain the parameters of the Automatic Payment Program before it can be used to make the payments to the business partners. Enter the run date and the identification as shown in the screenshot below. The identification can be used to differentiate between several payments runs being executed on the same day. The run date is the date on which the payment run is being executed.
The classic general Ledger contains all the financial transactions of a business. Besides using the classic general Ledger, businesses make use of the Special Ledger and other components like Profit Center Accounting (PCA) in order to meet statutory as well as internal requirements. SAP Profit Center Accounting and the special Ledger reside in separate applications. Therefore, these modules were not automatically reconciled with the classic general Ledger. Due to this there was a need to perform additional closing activities in order to reconcile these additional modules with the classic general Ledger.
The new general Ledger uses the same familiar interface as the classic general Ledger but overcomes the difficulty encountered while carrying out the closing activities in the classic general Ledger.
ADVANTAGES OF USING THE NEW SAP GENERAL LEDGER
- The new general Ledger covers all the functions that were previously implemented by the use of separate ledgers like the Costs of Sales Ledger, Special Purpose Ledger, the Reconciliation Ledger or the Profit Centre Ledger. Therefore, businesses need not maintain the separate ledgers in separate applications. This makes the recording at Administration of transactional data easier.
As many of you know I have produced an ABAP Video training course that many people have purchased and sent me tremendous feedback on. Well, after a lot of hard work I have turned that course into a brand new BEGINNERS GUIDE TO SAP ABAP book that you can get FREE from the 12th December […]