Accounts Payable

Finance

Definition

A module in SAP that manages a company's short-term payment obligations to suppliers and creditors.

Detailed Description

The Accounts Payable (AP) module in SAP is responsible for recording and managing all outstanding liabilities and payments due to vendors. It automates the processing of vendor invoices and outgoing payments, provides financial reporting, and helps manage cash flow by ensuring timely payments while taking advantage of vendor discounts.

Key Features

Credit memo management
Financial reporting and tracking
Integration with other SAP modules such as General Ledger and Procurement
Invoice processing and management
Vendor payments and reconciliation

Common Modules

SAP FI (Financial Accounting)

Provides core functionalities for financial accounting transactions and reporting, including general ledger and accounts payable.

SAP MM (Materials Management)

Supports procurement activities and integrates with accounts payable for managing invoices and payments related to material purchases.

Popular Implementations

Vendor Invoice Management Implementation

Streamlining the process of invoice management from matching purchase orders to facilitating automatic payments processing and record upkeep.