The Accounts Payable application component of SAP system handles and manages financial transactions and accounting data of all vendors. It is fully integrated with Material Management component through account determination. Vendors are treated in the system as subsidiary accounts. Logically, monitoring should be done at vendor level. Transactions to each vendor is unique, hence necessitate [...]

The Controlling (CO) component of SAP R/3 system contains all accounting functions necessary for effective controlling for businesses. Every organization normally have an external and internal  accounting viewpoints. The external viewpoints is represented by Financial Accounting (FI) component and Controlling (CO) represents the internal accounting viewpoint. CO component of SAP system offers a broad selection of [...]

The Accounts Receivable application component of SAP system handles and manages financial transactions and accounting data of all customers. It is fully integrated with Sales and Distribution component through account determination. Customers are treated in the system as subsidiary accounts. Logically, monitoring should be done at customer level. Transactions to each customer is unique, hence [...]

General Ledger Accounting is essentially functions as a complete record for all financial business transactions. All business transactions that have financial impact are posted to the appropriate general ledger account. On my opinion, SAP is the best ERP business software in the world. All components are fully integrated. The general ledger accounting of the system receives automatically all financial transactions from other component i.e. [...]

The Financial Accounting application component of SAP satisfies the requirement of the accounting department of your organization. Each Company is required to provide and submit financial statements to the government who has jurisdiction over the company’s operation. The financial statements is a result of all financial transactions recorded by the company. The Financial Accounting component of [...]