What Data is Contained in the Vendor Master Record? (SAP Library - FI Accounts Receivable and Accounts Payable)

What Data is Contained in the Vendor Master Record?

Data in vendor master records controls how transaction data is posted and processed for a vendor. The vendor master record also contains all the data you require to do business with your vendors.

The master record is used not only in Accounting but also in Materials Management. By storing vendor master data centrally and sharing it throughout your organization, you only need to enter it once. You can prevent inconsistencies in master data by maintaining it centrally. If one of your vendors changes their address, you only have to enter this change once, and your accounting and purchasing departments will always have up-to-date information.

A vendor master record contains:

Vendor’s name, address, language, and phone numbers

Tax numbers

Bank details

Account control data like the number of the G/L reconciliation account for the vendor account

Payment methods and terms of payment set up with the vendor

Purchasing data

If you implement Materials Management (MM), you will need purchasing data. For more information on this, see the documentation for Materials Management. In Materials Management, vendors are represented as suppliers.