Vendor Master Records are used by both the Accounting component and the Purchasing component. Before you create a vendor master record in Accounting, you need to make sure that the master record is not already created in Purchasing.
You can create a vendor master record by referencing an existing one. In this case, the system copies certain data from the reference master record, however the system does not transfer all the data.
If you have SAP Material Management configured, you can create a vendor master record centrally. Here we will discuss how to create vendor master record for a company code.
Go to Accounting → Finance Accounting → Accounts Payable → Master Record → Create.
The following window will open. If you are using an external number assignment, enter the vendor account number, otherwise the system will assign once you click "Save the master record".
Press Enter after entering the Company code, Account group. It will open a new window will open where you need to enter the following details −
A new window will open. Enter the Vendor control group details. If the vendor is from a corporate group, enter the corporate group name.
Once you press Enter or click Next Screen, enter the bank account details as shown below and click the Next Screen icon.
Next, enter the contact person details, name, telephone, description and go to the next screen.
In the next screen, enter the Recon Account and cash management group (domestic/Foreign, etc.)
Click the Next Screen icon and enter the payment transactions accounting details.
Enter Payt terms (like pay immediately, pay after 14 days 3% cash, etc.).
Once you are done with all the details, click the Save button at the top. You will get a message that a vendor has been created in the given company code.