What is Suppliers in SAP SRD-FIN-ACP - FIN-Payables?

SAP Term: Suppliers

• Component: SRD-FIN-ACP

• Component Name: FIN-Payables

• Description: A work center view that allows you to create, edit and store supplier data, such as address, purchasing and financial data and other information related to suppliers.

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• Key Concepts: 
  Suppliers are entities that provide goods and services to a company. In SAP, suppliers are managed through the Supplier Relationship Management (SRM) component. This component is part of the Financial Accounting (FI) module and is used to manage supplier relationships, payments, and invoices. 
  
  How to use it: 
  The SRM component of SAP allows users to create and manage supplier records. This includes entering supplier information such as contact details, payment terms, and payment methods. It also allows users to track invoices and payments, as well as manage supplier relationships. 
  
  Tips & Tricks: 
  When creating a new supplier record in SAP, it is important to ensure that all relevant information is entered accurately. This will help ensure that payments are made on time and that invoices are tracked correctly. Additionally, it is important to keep supplier records up-to-date in order to maintain good relationships with suppliers. 
  
  Related Information: 
  The SRM component of SAP also includes the Accounts Payable (AP) module, which is used to manage payments to suppliers. The AP module includes features such as payment scheduling, payment tracking, and invoice reconciliation. Additionally, the AP module can be used to generate reports on supplier performance and payment history.