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Invoice, Payment and Reporting – Lesson Summary

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Invoicing Process
The Invoicing Processes involves the processes of creating invoices and integrating billing documents in Contract Accounts Receivable and Payable (FI-CA). They map the business transaction that processes the billing documents, creates the invoice, and posts the invoice synchronously.

Credit Memo in SAP
In the SAP system, a Credit Memo is the reversal of an invoice. In the same way as the system assumes that a corresponding goods receipt was posted or is expected for an invoice, the system assumes that a Credit Memo is linked to the reversal of a goods receipt. The Credit Memo is therefore managed on the GR/IR clearing account.
Invoice reversal is a special form of Credit Memo. The system automatically determines the Credit Memo amount and the Credit Memo quantity from the invoice, so that there is no variance between the invoice and the Credit Memo. The postings made when you reverse an invoice follow the same rules as Credit Memo postings. This means that an invoice reversal does not necessarily reverse the postings made when the invoice was posted.

Goods Receipt/Invoice Receipt
GR/IR is the SAP process to execute the three-way match: Purchase order, Material Receipt, and Vendor Invoice. A clearing account is used to record the offset of the Goods Receipt (GR) and Invoice Receipt (IR) postings.

Payments in SAP
SAP S/4HANA Cloud for Customer Payments enables the provision to match payments with invoices, manage payment advice, create and manage payments, view the account statement, manage the master data of the account, and manage account assignments.

Closing and Reporting in SAP
The SAP Financial Closing cockpit for SAP S/4HANA supports the planning, execution, monitoring, and analysis of financial closing tasks for the entities of your group that recur periodically, involving multiple agents, and have a fixed chronological sequence in the closing process.
SAP Group Reporting provides a seamless process between the local and group closing activities since both are in the SAP S/4HANA Core.