What is AFM number in SAP FI - Financial Accounting?

SAP Term: AFM number

• Component: FI

• Component Name: Financial Accounting

• Description: A tax number assigned, in Greece, to legal persons. It is the principal number used by companies to identify themselves in transactions with the tax authorities. The VAT registration number is the same as the AFM number, but is prefixed with EL. In Greek, the tax number is known as arithmos phoroaogikoy metrooy.

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• Key Concepts: 
  AFM number stands for Account Number for Financial Management. It is a unique number assigned to each account in the SAP FI module. This number is used to identify the account and its associated transactions. 
  
  How to use it: 
  The AFM number is used to identify the account in the SAP system. It is used in all financial transactions, such as posting of invoices, payments, and other financial documents. The AFM number can be found in the master data of the account or in the transaction documents. 
  
  Tips & Tricks: 
  It is important to ensure that the AFM number is correctly entered when creating a new account or when making any changes to an existing account. This will ensure that all transactions are correctly recorded and tracked in the system. 
  
  Related Information: 
  The AFM number is closely related to the GL Account Number, which is used to identify accounts in the General Ledger module. The GL Account Number is also used in financial transactions, but it is not as specific as the AFM number.