Accounts Payable (FI-AP)
Accounts Payable (FI-AP) Accounts Payable (FI-AP) is a component of the SAP Financial Accounting (FI) module that manages all aspects of an organization's vendor invoices and payments. It handles the financial transactions and processes related to the organization's liabilities to vendors or suppliers. Key features and functionalities of the Accounts Payable (FI-AP) module include: 1. Vendor Master Data Management: FI-AP allows the creation and maintenance of vendor master data, which includes information about vendors/suppliers such as names, addresses, payment terms, and payment methods. This data is used for accurate processing and recording of vendor transactions. 2. Invoice Verification: The module provides functionalities for verifying and processing vendor invoices. It includes features like invoice matching, where system checks are performed to ensure the accuracy and consistency of invoice details with purchase orders and goods receipts. 3. Automatic Payment Processi