Mangesh Kondhalkar’s Post

Roadmap to Mastering Accounts Payable in SAP 📢 1️⃣ Understand AP Fundamentals 📚 Familiarize yourself with the basics of accounts payable, including invoices, payments, vendor management, and reconciliation. 2️⃣ Learn SAP Navigation 🧭 Get comfortable with SAP’s user interface and navigation. Understand how to access and utilize key AP transactions. 3️⃣ Master Vendor Master Data 🗂️ Learn how to create and maintain vendor master records, including key information like payment terms, bank details, and address. 4️⃣ Process Incoming Invoices 📄 Understand the different ways to enter invoices in SAP (e.g., manual entry, via purchase orders, or through the MIRO transaction) and familiarize yourself with the invoice verification process. 5️⃣ Handle Payments 💰 Learn about the payment processing methods in SAP, including automatic payments (using transaction F110) and manual payments. Understand how to set up payment runs and manage payment proposals. 6️⃣ Reconcile Accounts 🔍 Master the reconciliation process for accounts payable, ensuring that the AP subledger aligns with the general ledger. Familiarize yourself with reporting tools for reconciliation. 7️⃣ Manage Withholding Tax 💵 Understand how SAP handles withholding tax for vendors and learn how to set it up in the vendor master and during invoice processing. 8️⃣ Implement Workflow and Approvals ✅ Explore how to set up and manage workflows for invoice approvals to ensure compliance and streamline processing. 9️⃣ Reporting and Analysis 📊 Get to know SAP’s reporting tools for accounts payable, including standard reports and how to create custom reports for better visibility into AP metrics. 🔟 Stay Updated on Best Practices 🔄 Familiarize yourself with SAP best practices for accounts payable to enhance efficiency and compliance in your processes. …and more! 🚀 #SAP #SAPCommunity #SAPConsultant #SAPConsultants #SAPConversion #SAPMigration #SAPConsulting #SAPimplementation #sapsupport #SAPFreshers

Corrected/Verified T-Codes for Accounts Payable: Invoice Processing: - FB60: Enter Vendor Invoice (correct) - FB65: Enter Credit Memo (correct) - FB70: Enter Customer Invoice (this is for customer invoice, not AP, but relevant for AR) - MIRO: Enter Incoming Invoice (correct) Payment Proposal: - F110: Automatic Payment Program (used for both payment proposals and processing payments—correct) - F111: Automatic Payment for Down Payments (correct, this is for down payments rather than regular vendor payments) Reports: - S_ALR_87009772: Vendor Line Items (correct) - S_ALR_87009773: Vendor Balances (correct, but specific to reporting balances, not necessarily "Account Balance") - FBL1N: Vendor Line Item Display (correct) - FBL3N: G/L Account Line Item Display (this is for G/L account balance, not vendor account balance) - FBL5N: Customer Line Item Display (this is for customers, not vendors) Additional T-Codes: - XK02: Change Vendor Master Data (correct) - XK03: Display Vendor Master Data (correct) - FBL7N: GL account line items clearing item - FBL9N: Display Customer Account Statement (again, this is related to customer accounts, not vendors) Suggested Adjustments: - Replace FB70 and FBL5N with customer-related processes (AR). - For Accounts Payable, the relevant codes for vendor-related reports are more focused on T-Codes like FBL1N or vendor balances through S_ALR_87009772/73 - FBL3N is not for vendor balances but for G/L accounts. Would you like me to suggest further refinements? Share your favorite SAP T-Codes or tips in the comments below! Let's collaborate and learn from each other. #SAP #AccountsPayable #InvoiceProcessing #PaymentProposal #Reports #TCodes #ProductivityHacks #APAutomation" #Resumereview #Bookkeeping

Ap Processor: An AP (Accounts Payable) Processor plays a vital role in vendor invoice management within an organization. Here's an overview of their responsibilities and the process they typically oversee: Responsibilities: 1. Invoice Processing: The AP Processor is responsible for receiving, reviewing, and processing vendor invoices accurately and efficiently. This involves verifying the accuracy of invoice details, such as billing amounts, payment terms, and vendor information. 2. Data Entry: They enter invoice data into the organization's accounting or ERP (Enterprise Resource Planning) system, ensuring that all information is recorded correctly and in compliance with company policies and procedures. 3.Invoice Approval Workflow: AP Processors often manage the invoice approval workflow, routing invoices to the appropriate departments or individuals for approval based on predefined authorization rules. 4.Issue Resolution: They handle any discrepancies or issues that arise during the invoice processing, collaborating with internal stakeholders and vendors to resolve discrepancies promptly. 5. Vendor Communication: AP Processors communicate with vendors regarding invoice status, payment inquiries, and any other related matters, maintaining positive vendor relationships. 6. Payment Processing: They coordinate with the finance team to ensure timely and accurate payment of approved invoices, adhering to payment terms and schedules. #vim #Vimlearningday23 #vimday23 #Ap_processor #sap #sapcommunity

💼 Step-by-Step Blueprint to Mastering Accounts Payable (AP) Management 💼 Managing Accounts Payable efficiently** is crucial for maintaining healthy cash flow and fostering strong vendor relationships. Here’s your complete guide to optimizing AP processes: 1️⃣ Receive Invoices: Collect all invoices promptly from suppliers—ensure no invoice is missed to avoid late payments.   2️⃣ Verify & Approve Invoices: Check the details for accuracy (quantities, prices, and terms). Approvals from relevant departments speed up the process.   3️⃣ Record & Enter Data: Input invoice data into your accounting system (e.g., ERP or AP software) for better tracking and transparency.   4️⃣ Authorize Payment: Ensure payments are approved according to your company’s internal control policies.   5️⃣ Process Payments: Choose your payment method (e.g., wire transfers, checks, ACH) and pay vendors on time to build trust.   6️⃣ Reconcile Payments: Match payments with invoices and bank records to prevent discrepancies and ensure accurate financial reporting. 🔑 Pro Tip: Automating your AP process can reduce errors and increase efficiency. Platforms like NetSuite, QuickBooks, or SAP can save hours of manual work. Keep your cash flow healthy and avoid late fees with a well-managed AP process! 🌟 Ready to take your AP management to the next level?   👉 Read more on Mastering Accounts Payable(AP) Click on 🔗 https://bit.ly/3XBaadp 👈 #AccountsPayable #APAutomation #FinanceBestPractices #AccountingEfficiency #BusinessFinance #CashFlowManagement #InvoiceProcessing #CorporateFinance #AccountantsOfLinkedIn #ERPSystems #FinancialPlanning #VendorManagement #AccountingTips

Accounts Payable teams spend too much time manually processing invoices — scanning, sorting, verifying, and keying in data. They are mired in manual work that slows the AP workflow, stifles job satisfaction and productivity, introduces error, and can even delay payment to suppliers. But what if you could eliminate tedious data entry, improve accuracy, and accelerate invoice turnaround times while freeing your AP team to do their best work? https://sap.to/6047WuvGN

Daily routine of Account Payable Analyst 1. Receive invoices from suppliers; This can be done either electronically, physically or both. 2. Review and verify invoice accuracy;    -For POs, the figure on the PO should be the same as that on the invoice    -Ensure the invoice is addressed to the right entity.     -A JCC(for services rendered) or delivery note(for goods supplied) must be attached.      -For reimbursements, evidence of payment from the third party must be attached. 3. Process invoices submitted using an accounting software, such as Quickbook, Sage 300, SAP ERP, and it's likes. When processing invoices, ensure you tax each vendor properly. 4. Approve payments; Some companies for control purpose, who process an invoice is different from who approve and make payments. 5. Schedule payments based on terms. 6. Issue payment to suppliers&share payment advise (if requested by the vendor). 7. Record transactions in ledger; Some accounting software automatically records transaction in the ledger once step 3 takes place. 8. Reconcile Account Payable account regularly; it is advised to reconcile all account at the end of the month. The following should be avoided by account payable analyst: 1. Processing invoice without review and verification. 2. Not reconciling AP account regularly. 3. Maintaining a disorganised records. 4. Not leveraging on early payment discounts 5. Failing to keep to terms of payment. Hope you found this helpful.

From My Experience As Treasury for many Years i wanna sharing with you my experience : 🔶 How to improve AP Management as treasury Analyst for local vendors 🔶 :  👉 Define recurring problems causing delay in payment & enhance vendors complaints  - For example :  ▶️ in SAP without confirm reception on system we can't bookeeping invoices  ▶️ Vendors don't respect the legal form of invoices  ▶️ vendors don't include with the invoice all the supporting document  as delivery note, the numbers of invoices as requested in the contract, Purchase order  ▶️ blocking on system without any reason or quality system blocking 👉 Measure and categorise problems relevant to the delay of payment  ▶️supporting document ▶️ Missing confirmation on system by the owner of the purchase request ▶️ System blocking 👉 Analyse what causing this promlems and try to find solutions  ✔️ for supporting document try to make template of invoice and list the supporting document needed and also a tracker and send them to accounting department for handling your request with vendors ✔️For missing confirmation on system sending an e-mail to the owner of purchase rquest and raise the awarnesse on them about the impact of delaying on system confirmation  ✔️ Request support from Accounting Department to support you for deblocking invoices with quality reason and without any impact to the accountaning invoice  👉 improve proccesses that will help you to avoid this problems in this future  👉 controlle periodicly the number of ivoices Pastdue and not paid to find out if the process is highly effecient or not.  

Automating Payment advise copy through email The payment run is the automatic payment activiy (SAP) in accounts payable process which is used to handle payments to vendors. This is used to clear the open invoices and post the payments against the invoices. In addition to the above, there are also forms sent to customers and vendors about the Payments done called Payment Advice based on the payment method configured. Payment Advice: A payment advice note is a document or letter of communication sent by a customer or buyer to businesses that states that an invoice has been paid to cheque, NEFT, RTGS, or by any means of electronic transfers, etc. It is a letter of communication that acknowledges the seller as to which outstanding invoices have been cleared by the buyer and by what means. Therefore, a payment advice note can be handy when it comes to matching payments to an invoice. This is a must have functionality to be implemented in accounts payable process which reduces considerable amount of queries from the suppliers related to the payment status.

Open Purchase Order Report in Accounts Payable and P2P: A Beginner's Guide 1. Understanding Open Purchase Orders: An Open Purchase Order refers to a purchase order that has been issued but has not yet been fulfilled or paid. It represents commitments made by the organization for future goods or services. 2. Importance of Open Purchase Order Report: The Open PO Report is a critical tool for monitoring and managing outstanding commitments, helping businesses track their financial liabilities and ensure timely fulfillment of orders. 3. Components of the Open Purchase Order Report: The report typically includes essential details such as:Purchase Order Number Supplier Name Order Date Expected Delivery Date Quantity Ordered Quantity Received Outstanding Quantity Total Order Value 4. Creation of Open Purchase Order Report: The Open PO Report is generated by the accounts payable or procurement department using data from the accounting or enterprise resource planning (ERP) system. 5. Review and Verification: Regularly review and verify the accuracy of the Open PO Report. Ensure that all information aligns with the actual procurement transactions and that there are no discrepancies. 6. Tracking Outstanding Commitments: The report helps in tracking outstanding commitments to suppliers, allowing businesses to plan their cash flow and manage liquidity effectively. 7. Monitoring Delivery Dates: Keep a close eye on expected delivery dates in the Open PO Report. This helps in managing inventory and ensures that goods or services are received on time. 8. Collaboration with Procurement Team: Collaborate with the procurement team to update and modify the Open PO Report as needed. This includes making changes to quantities, delivery dates, or canceling orders when necessary. 9. Communication with Suppliers: Use the Open PO Report to communicate effectively with suppliers. Provide updates on delivery expectations and address any discrepancies or delays proactively. 10. Aging Analysis: Perform aging analysis on open purchase orders. Categorize them based on how long they have been outstanding to identify potential issues or delays. 11. Integration with Accounts Payable: Integrate the Open PO Report with the accounts payable system to facilitate seamless processing of invoices and payments once goods or services are received. 12. Continuous Improvement: Regularly assess the Open PO Report and related processes for continuous improvement. Identify areas where efficiency can be enhanced, such as reducing lead times or negotiating better terms with suppliers. Conclusion: The Open Purchase Order Report is a vital tool in accounts payable and the P2P process, providing insights into outstanding commitments and helping organizations manage their procurement efficiently. By following these steps, businesses can optimize their procurement processes, enhance communication with suppliers, and maintain financial transparency. #openpo #ap #accountspayable #reporting