What is receivable in SAP FI - Financial Accounting?

SAP Term: receivable

• Component: FI

• Component Name: Financial Accounting

• Description: A claim for payment on the recipient of goods or services supplied. Receivables are shown in the balance sheet under current assets, with further subdivisions, such as receivables from goods and services and receivables from consolidation companies.

Smart SAP Assistant

• Key Concepts: 
  Receivable is an asset account in the Financial Accounting (FI) component of SAP. It is used to record amounts owed to a company by its customers, vendors, or other entities. The receivable account is used to track the amount of money that is owed to the company and can be used to generate invoices and other documents. 
  
  How to use it: 
  In SAP, receivables are recorded in the General Ledger (GL) and can be tracked using the Accounts Receivable (AR) module. The AR module allows users to view customer accounts, create invoices, and manage payments. The receivable account can also be used to generate reports such as aging reports and customer statements. 
  
  Tips & Tricks: 
  When creating invoices in SAP, it is important to ensure that all information is accurate and up-to-date. This includes customer information, payment terms, and any discounts or taxes that may apply. Additionally, it is important to ensure that all payments are recorded in the receivable account in a timely manner. 
  
  Related Information: 
  The receivable account is closely related to the Accounts Payable (AP) module in SAP. The AP module allows users to track payments made by customers and vendors and can be used to generate reports such as vendor statements and aging reports. Additionally, the AP module can be used to manage vendor relationships and ensure timely payments.