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Former Member

Customer/vendor accounts.

Hi.

I have a question, help me. I'm reading FICO and I dont understand exactly what are customer/vendor accounts ? Can you tell me its definition ?

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  • author's profile photo Former Member
    Former Member
    Posted on Jan 11, 2008 at 04:42 AM

    Dear Sir,

    Vendor means from whom the company purchases different type of materials for the compnay purpose, the mode may be either in cash or credit. Vendor means Creditor.

    In SAP we maintain vendor master records for each vendor seperately with the help of a reconciliation account( balance sheet) which in general we call it as Creditors controlling account.

    Customer means to whom the company sells its products on cash or credit. These are nothing but debtors.

    In SAP we maintain Customer master records for each vendor seperately with the help of a reconciliation account( balance sheet) which in general we call it as Debtors controlling account.

    Reconciliation Account works on Subledger concept.

    In the Balance Sheet we show the Balances of Vendors and Customers as Sundry Creditors and Sundry Debtors.

    In this concept you need to create the GL Account as with the field status group of G067,

    You need to specify that this gl account belongs to which group of vendor, customer, asset or contract accounts.

    When ever you are creating the maser record you need to specify this GL account as recon account.

    Due to this when ever u post the transaction to any vendor or customer or asset that automatically updates the reconciliation account.

    The total amount of all vendors/customers would be equal to the value of Reconciliation Accounts.

    Thanks

    Harikishan

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  • author's profile photo Former Member
    Former Member
    Posted on Jan 11, 2008 at 05:23 AM

    HI,

    CUSTOMER:- is a trading partner to which the company sell goods .

    Tcode for customer invoice is FB70 and customer incoming payments is F-28.

    customer accounts:-records all the transactions done

    VENDOR:- is a trading partend from which company purchase goods .

    Tcode for vendor invoice is FB60 and outgoing payment is F-53.

    Assign points if useful.

    Regards,

    Shradha.

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