From the course: SAP Business One Essential Training
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Some basic accounting - SAP ERP Tutorial
From the course: SAP Business One Essential Training
Some basic accounting
- [Instructor] If you are new to business systems, I wanted to take a few minutes to discuss some basic terms and concepts of accounting and business systems. If you're not new, SAP Business One uses a few misleading terms if you don't know what they mean in context. There are lots of variations of businesses, but I'm going to use the example of a printer manufacturer. The basics of a company is to do two things, get something of value and sell something for more value, thus making money. SAP Business One calls these two activities purchasing and sales. If you are an accountant, you probably know them as accounts payable and accounts receivable. But in SAP B1, they confusedly use sales and purchasing. People and company that deliver stuff to us in purchasing are known as vendors. People or companies we sell to are called customers. Customers and vendors group together in SAP Business One as business partners. We also…
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