Concept - The new enhancement framework allows modification of a standard class to achieve the expected business functionality which goes beyond the older framework. It is a marriage of the modifications strategy and the classic enhancement strategy extended to new... Continue Reading →
Following are some of the benefits of employing workflows - 1. Automation of business processes2. Manage dependencies between activities and ensure timely closure3. Improve transparency in the system in regards to the activities to be performed4. Easy substitution of task owners... Continue Reading →
Wayne Enterprises gets an order from Tony Stark. While Tony is a good customer, the payments are usually delayed for large dollar amount cheques. Hence, Wayne Enterprises decided to involve an intermediary in the process. When an order is placed,... Continue Reading →
Chargeback is amount claimed by Distributor from Manufacturer/Vendor for the accounting difference in the agreed upon price (with customer) and acquisition price (by distributor). Consider the example - Delta sells earpods for INR 2000. This is their marketplace price. Customer... Continue Reading →
Account Receivable - Any transaction with a customer means that the organization expects some money is coming into the account. Account Receivable in SAP accounts for all accounting data pertaining to a customer. All postings in AR are captured in... Continue Reading →
Business Area - Defines lines of businesses which can be clubbed together. It helps in differentiating between transactions belonging to different lines of businesses. Example - Marketing can be identified as a business area. It can help a company understand... Continue Reading →
General Ledger or GL, in pure financial terms, is a record-keeping system that takes into account every financial transaction that takes place in a company while it is operational. GL is usually maintained by employing a double-entry method where each... Continue Reading →
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