What is FIRMS code in SAP SLL - Global Trade Services?

SAP Term: FIRMS code

• Component: SLL

• Component Name: Global Trade Services

• Description: Identifies the place where the merchandise and goods are. The abbreviation FIRMS stands for Facilities Information and Resources Management System.

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• Key Concepts: 
  FIRMS code is a unique identifier assigned to a company by the Financial Industry Regulatory Authority (FINRA). It is used to identify the company in financial transactions and is required for all companies that are registered with FINRA. The FIRMS code is used in SAP's SLL Global Trade Services component to identify the company in international trade transactions. 
  
  How to use it: 
  The FIRMS code is used in SAP's SLL Global Trade Services component to identify the company in international trade transactions. The code must be entered into the system when setting up a new company or when making changes to an existing company. This ensures that all transactions are properly identified and tracked. 
  
  Tips & Tricks: 
  When entering the FIRMS code into SAP's SLL Global Trade Services component, make sure to double-check that the code is correct. Incorrect codes can lead to errors and delays in processing transactions. 
  
  Related Information: 
  The FIRMS code is part of FINRA's Regulatory Identification Number (RIN) system, which is used to identify companies in financial transactions. The RIN system also includes other identifiers such as the Central Index Key (CIK) and the National Association of Securities Dealers Automated Quotations (NASDAQ) number.