What is 'creditor' in SAP AP - Application Platform?

creditor - Overview

• Component: AP

• Component Name: Application Platform

• Description: A party that is authorized to require a service as a result of an obligation.

creditor - Details

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  Key Concepts: 
  A creditor is an entity that is owed money by another entity. In the context of SAP's Accounts Payable (AP) Application Platform, a creditor is an external party that provides goods or services to a company and is owed money for those goods or services. 
  
  How to use it: 
  In SAP's AP Application Platform, creditors are managed through the Creditor Master Data. This data includes information such as the creditor's name, address, contact information, and payment terms. This data is used to create invoices and payments for creditors. 
  
  Tips & Tricks: 
  It is important to keep creditor master data up-to-date in order to ensure accurate invoicing and payments. It is also important to ensure that all creditors are properly classified in order to ensure accurate reporting. 
  
  Related Information: 
  The SAP Accounts Payable (AP) Application Platform provides a comprehensive set of tools for managing creditors and their associated data. It also provides tools for creating invoices and payments, as well as reporting on creditor activity.