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Terp10 Unit 3

Financial Accounting

What is the purpose of Financial Accounting (FI)? Focuses on the G/L, the process of receivables, and Asset Accounting
What is the purpose of Reconciliation Accounts? Connects the sub-ledgers to the G/L in real-time
What is the purpose of Accounts Payable Accounting (AP)? Records all business transactions that have to do with the relationships to suppliers. It takes much of its data from the Procure to Pay business process.
What is the purpose of Accounts Receivable Accounting (AR)? Records all business transactions that have to do with the relationships to customers. It takes much of its data from the Order to Cash business process.
What is the purpose of Asset Accounting (AA)? Records all business transactions that have to do with the management of assets.
What is the purpose of Bank Ledger (BL)? Supports the booking of cash flows.
What level is the G/L managed at? The company level. From there, the required balance sheet and/or the P/L statement are compiled.
How many leading ledgers is there in each Client? One.
What are the components of SAP Financial Supply Chain Management? 1. Electronic Bill Presentment and Payment (SAP Biller Direct) 2. SAP Dispute Management 3. SAP Collections Management 4. SAP Credit Management 5. SAP Cash and Liquidity Management 6. SAP In-House Cash 7. SAP Treasury and Risk Management
What is the purpose of SAP Biller Direct? Allows billers to send -- and customers to receive -- invoices electronically, making invoicing more efficient.
What is the purpose of SAP Dispute Management? Offers you system support for processing payment deductions as well as enables cross-departmental resolution of dispute cases, including work-flow support and escalation procedures. This improves receivables management and speeds up invoice settlement.
What is the purpose of SAP Collections Management? Allows you to structure, classify, and minimize the receivables owed to your organization. You can make receivables management in your company more efficient and process an ever-increasing receivables balance in as short a time period as possible.
What is the purpose of SAP Credit Management? Provides companies that have a large customer base with the opportunity to monitor the total liability of their customers, using appropriate credit lines. It is a centralized and company-wide management of credit lines.
What is the purpose of SAP Cash and Liquidity Management? Supports the cash manager in efficiently managing liquidity and currency risk. It eliminates redundant data entries entirely.
What is the purpose of SAP In-House Cash? Allows diversified companies to optimize their intra-group payment transactions by opening an in-house bank. It is a virtual bank within the corporate group, with which each associated company has one or more accounts.
What is the purpose of SAP Treasury and Risk Management? Offers a comprehensive set of functions for managing your financial transactions and risk. You get straight-through processing for all conventional types of instruments within investment, debt, and foreign exchange management.
Created by: mark.mcdonald84



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