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Chapter 14
Defining FI Accounts Receivable
and Accounts Payable
This chapter explains what accounts receivable and accounts payable are, and also looks at the steps
involved in customizing accounts receivable and accounts payable.
At the end of this chapter, you will be able to:
• Understand what accounts payable/receivable is
• Describe an account group and understand its importance
• Maintain the Field Status group for general data about customer account groups
• Define account groups with screen layout
• Define payment terms in SAP
• Maintain terms of payment for an installment plan
• Define document types for enjoy transactions
• Maintain settings for manual outgoing payments
• Define automatic outgoing payments
• Maintain tolerance groups for employees, customers/vendors, and G/L accounts
• Define sort methods and adjustment accounts for regrouping receivables/payables
• Specify adjustment accounts for receivables/payables by maturity
• Define adjustment posting/reversal using negative posting methods
• Understand reasons for reversal
Accounts Payable and Accounts Receivable
Accounts Payable and Accounts Receivable simply represent Customer and Vendor Accounts, respectively.
A customer is usually referred to as a debtor and a vendor is called a creditor. A customer is a business
partner from whom receivables are due. These business partners owe you money for goods delivered or
services rendered. A customer falls under the category of sales. In SAP ERP, a customer must have a master
record. A customer master record contains information about a customer account held in the database
that’s applied to accounting transactions in the system. A vendor is a business partner to whom payables are
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