What is employer identification number in SAP FI - Financial Accounting?

SAP Term: employer identification number

• Component: FI

• Component Name: Financial Accounting

• Description: A tax number assigned, in the United States, by the Internal Revenue Service to business entities.

Smart SAP Assistant

• Key Concepts: 
  An Employer Identification Number (EIN) is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to identify a business entity. It is used for tax filing and reporting purposes, and is required for businesses to open bank accounts, apply for business licenses, and file taxes. 
  
  How to use it: 
  In SAP Financial Accounting (FI), an EIN is used to identify a company in the system. It is entered into the company code master data and is used to identify the company when filing taxes or other financial documents. 
  
  Tips & Tricks: 
  When entering an EIN into SAP FI, make sure that it is entered correctly. If it is incorrect, it could lead to incorrect tax filings or other financial documents. 
  
  Related Information: 
  The EIN is also known as a Federal Tax Identification Number (FTIN). It should not be confused with the Social Security Number (SSN), which is used to identify individuals.