Financial business partner groups
Financial business partner groups are used to establish the link between the accounts payable and accounts receivable. These groups are also used to establish a link to the General Ledger. For each business partner group, you must define a set of ledger accounts and dimensions to which transactions are posted.
In addition, you must define at least one control account. The received sales invoice amounts and sent purchase invoice amounts are posted to this account. When booking credit notes, the account is credited or debited in the opposite way, depending on the Negative Amount for Credit Notes parameter in the Transaction Types (tfgld0511m000) session. You can define multiple control accounts, and use the sales types and the purchase types to post the various types of invoice amounts to different control accounts. For details, refer to To set up control accounts.
You can define the financial business partner groups and the control accounts and other ledger accounts and dimensions for the business partner groups in these sessions:
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In Accounts Payable:
- Financial Business Partner Groups (tfacp0110m000)
- Ledger Accounts by Business Partner Group (tfacp0111m000)
- Control Accounts by BP Group (tfacp0515m000)
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In Accounts Receivable:
- Financial Business Partner Groups (tfacr0110m000)
- Ledger Accounts by Business Partner Group (tfacr0111m000)
- Control Accounts by Business Partner Group (tfacr0515m000)
You can assign the financial business partner groups to business partners in one of these sessions in Common:
- Invoice-to Business Partner (tccom4112s000)
- Invoice-from Business Partner (tccom4122s000)
When a transaction is entered, LN retrieves the financial business partner group to which the business partner belongs. The transaction is posted to the ledger accounts and dimensions associated with the business partner group.