What is customer master in SAP FI - Financial Accounting?

SAP Term: customer master

• Component: FI

• Component Name: Financial Accounting

• Description: A collective term for all customer master records. The customer master contains the basic data for all customers with which a company conducts business.

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• Key Concepts: 
  The customer master is a component of SAP FI Financial Accounting. It is a database that stores all the information related to customers, such as their contact information, payment terms, and credit limits. This information is used to manage customer relationships and ensure accurate billing and payments. 
  
  How to use it: 
  The customer master can be accessed through the SAP FI Financial Accounting module. It can be used to create new customer records, update existing records, and delete records. It also allows users to view customer information, such as payment terms and credit limits. 
  
  Tips & Tricks: 
  When creating a new customer record, make sure to enter all the necessary information accurately. This will help ensure that billing and payments are processed correctly. Additionally, it is important to keep the customer master up-to-date with any changes in customer information. 
  
  Related Information: 
  The customer master is closely related to other components of SAP FI Financial Accounting, such as the vendor master and the general ledger. It is also related to other modules, such as Sales & Distribution and Materials Management.