What is external contract number in SAP FI - Financial Accounting?

SAP Term: external contract number

• Component: FI

• Component Name: Financial Accounting

• Description: A number on the hard copy of the contract document that is signed by the contracting parties.

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• Key Concepts: 
  External contract numbers are used in SAP Financial Accounting (FI) to identify contracts with external vendors. They are used to track and manage the financial transactions associated with the contract, such as invoices, payments, and other documents. The external contract number is typically assigned by the vendor and is unique to each contract. 
  
  How to use it: 
  In SAP FI, external contract numbers are entered into the system when a contract is created. This allows for easy tracking of all financial transactions associated with the contract. The external contract number can be used to search for and view all related documents, such as invoices and payments. 
  
  Tips & Tricks: 
  It is important to ensure that the external contract number is entered correctly when creating a new contract in SAP FI. This will ensure that all related documents can be easily found and tracked. Additionally, it is important to keep track of any changes to the external contract number, as this may affect the ability to search for related documents. 
  
  Related Information: 
  For more information on external contract numbers in SAP FI, please refer to the SAP Help Portal or contact your local SAP support team.