Accounts Payable is a submodule of SAP FI used to manage and record Accounting data for all the vendors. It handles vendor invoices, approvals, payments and other allied activities.
Any postings made in Accounts Payable is updated in General Ledger as well. The Accounts Payable submodule has tons of reports and forecasting to features to track vendor outstanding and payments.
The chief processes covered in the sub-module are
- Maintain Vendor Master Data
- Invoice Handling
- Payments
- Account Analysis of Reconciliation
- Reports
