In the customer and vendor master record, the business place master data has to be entered. Generally, one vendor or customer master record is created for each business partner. In Korea we recommend to create one master record for each business place of each customer and vendor. This inflates the number of master records, but with one master record for each business place of each business partner, it is possible to report the business volume for each customer and vendor business place separately.

In order to display the balances or the individual line items for all the business places of a business partner you can create a work list that contains all the customer or vendor master records of the business places of this company. Use this work list when displaying open line items. If the payment of your business partner is done centrally (customers and vendors) use the alternative payee/payer fields in the vendor/customer master records.

Where do we store the business place master data in the vendor and customer master records?

The VAT reg no is entered in the field tax code 2. The ID of the representative is entered in the field tax code 1. To enable entry of the name of the representative, the type of business and the type of industry, three new fields have been added to the general data part of the master records. When customizing the account groups for vendor and customer, allow optional entry or require mandatory entry for the fields of the field group Korean Business Place Data.

Please do not leave blank spaces or hyphens in the fields for the VAT registration number and the social ID of the representative. In the country specific settings for Korea, the length of the field tax code 1 was configured for 13 digits without blanks and the field tax code 2 for 10 digits without blanks.