Business partner finance groups
The partner financial group assigns customers or suppliers to a financial treatment and a collection account.
Financial group partners
The partner financial group assigns customers or suppliers to a financial treatment and a collection account.
Why this point is crucial for key users
The group reduces complex partner account assignments to an understandable, technical selection. This means that the key user decides once - and not every user makes a new decision for every document.
Fields and settings at a glance
- Partner type: Determines whether the group applies to customers or suppliers.
- Financial group partners: Meaningful name of the financial partner class, e.g. “domestic customer”.
- Collective account: General ledger account in which the group's receivables or payables are summarized. The selected collective account must be in Chart of accounts in the fields Purpose and assignment be identified as a collective account. All debtor and creditor balances are posted by the program to the collected master account. The collective account itself cannot be addressed directly through a posting. The balance of the collection account corresponds to the sum of the corresponding debtor and creditor balances.
- Default: To make it easier to create new partners, a standard financial group can be set for customers and suppliers. When a new partner is created, this partner is automatically assigned to the financial group. Only one customer and one supplier financial group can be set as the default value.
How to prepare for the process safely
- Define partner types and required collective accounts.
- Create a clear name and assign the account.
- Only set a default value after conscious checking.
- Test a new partner and a full receipt.
Check before sharing
- Customer and supplier groups are not swapped.
- The master account corresponds to the chart of accounts and subledger logic.
- The default group is only suggested in appropriate cases.
What your team gets out of it
New partners automatically find the right path in the subledger and general ledger.
Related topics
- For key users – understand and prepare processes › Finance › Use account determination › Finance group item
- For key users – understand and prepare processes › Finance › Define tax groups › Tax keys
Frequently asked questions
Why is Finanzgruppe Partner important for key users?
The group reduces complex partner account assignments to an understandable, technical selection. This means that the key user decides once - and not every user makes a new decision for every document.
What needs to be checked before release?
Customer and supplier groups are not swapped. The master account corresponds to the chart of accounts and subledger logic. The default group is only suggested in appropriate cases.