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Vendor statements can be automatically reconciled within SAP

By | 2019-04-01T12:11:59+00:00 August 1st, 2016|

If you currently use SAP and are performing manual or excel reconciliations, then it’s time to learn how to do it directly in SAP.

SAP, as initially delivered, doesn’t have the functionality to process vendor statements. In business, vendor statements are processed nonetheless, and SAP clients are forced to process statements manually outside of SAP. BEST SAP is a fully integrated SAP add-on module that allows moving from manual, non-system statement processing to a more efficient, auditable, reportable system in SAP. Simply, the benefits are all of those associated with system processing rather than manual processing.

A bit of information about BEST SAP:

  • The product has been certified by SAP Germany and conforms to SAP standards
  • Standard SAP is not modified in any way, ever
  • Use of standard SAP plug-ins to ensure seamless integration to SAP creditors
  • Additional custom screens and reports
  • Upgradeable as it conforms with standard SAP methodology
  • Tried and tested functionality
  • Multiple reference sites
  • Fits within current IT architecture (the same hardware, authorizations, transport and control procedures etc.)

If your vendors send statements to you electronically, it can also be sent directly to SAP. Depending on your business and situation, you might also have vendors that send you paper statements, which can also be loaded into SAP in a fast way. If you have a vendor portal, statements can be loaded via this portal. You can also set up an email address that doesn’t have to be monitored by a human, as BEST SAP will monitor this inbox and upload any vendor statements that it receives.

As soon as a statement is loaded into SAP, it will automatically be matched to the items within SAP. If the product can’t be matched to an item, it will go further up the procurement chain to find a match. The reconciliation report can then be processed with the click of a button.

For more information about reconciling vendor statements in SAP, visit BEST SAP.