The payment processed for incorrect payments needs to correct it. SAP FI provides facility to reset the incorrect payments which are generated wrongly or mistakenly.
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Automatic Payment Program (APP) serves the purpose of posting accounts payable based on vendor invoices automatically. APP is a tool posting the vendor payments according to due date and it helps to avoid any mistakes taken place in posting manually.
The Accounts Receivable application component records and controls all customers accounting data. Accounts Receivable is an essential part of sales management.
In the SAP System, all business transactions are posted to and managed in accounts. Master record must be created for each account that require. The master record contains data that controls how business transactions are recorded and processed by the system.
Customer master records are used by both the Financial Accounting (FI) component and the Sales and Distribution (SD) component.
Both accounting and sales departments use the customer master record. Either the general and company code data or the entire customer master record can be displayed when it required.
If the master record changed, the system logs these changes and generates change documents. It stores the time of change, the name of the user and the previous field contents for each field.
A customer account can be blocked in Accounts Receivable so that postings are no longer made to that account. The customer account should be blocked before customer master record marking for deletion.
Vendor account for posting can be blocked within Accounts Payable. Vendor master record should be blocked before marking it for deletion.
Customer master records that is no longer needed can be archived. Customer master records extracted from the SAP database, deleted and placed in a file when data is archived. The file can transfer to an archive system.