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Magnetic Media Compliance Reports: Master Data for Business Partners

One of the steps you need to perform when installing the Magnetic Media compliance reports solution is to create the company’s master data in your backend system, through BP transaction.

There are some important details to take in consideration when creating business partners, so that you enable the Magnetic Media compliance reports solution to extract data correctly from your SAP S/4HANA system. You can find SAP’s recommendations for creating business partners in the product documentation, under Master Data for Magnetic Media.

Find below some quick tips for you to pay attention when it comes to business partner type and name:

You can choose between two types of business partners in BP transaction: Organization or Person.

Make sure you have applied SAP Note 2695975 to have business partners of type Person enabled in your system.

Type Organization

You can use this type of business partner for companies or natural persons.

Case 1: You want to create a business partner of type Organization for a company.

Choose type Organization and leave the Natural Person checkbox blank in the Identification tab.

In the Address tab, enter the complete name of your business partner in the Name field 1.

For example, if your company business partner is called Bogota Company of Trades, enter the whole name in Name field 1:

Case 2: You want to create a business partner of type Organization for a natural person.

Choose type Organization and select the Natural Person checkbox in the Identification tab.

In the Address tab, enter the person’s first and second names in Name field 3 separated by a comma. Also, enter the person’s first and last names in Name field 4 separated by a comma.

For example, if your natural person business partner is called Juan Armando Perez Silva, divide his name as:

Name 3: Juan,Armando

Name 4: Perez,Silva

Type Person

Use this type of business partner for natural persons.

Choose type Person and leave the Natural Person checkbox blank in the Identification tab. This checkbox is not relevant when you already have chosen type Person.

In the Address tab, enter the first, middle, last name, and other last name of the person in the First Name, Middle Name, Last Name, and Other Last Name fields.

For example, if your natural person business partner is called Maria Gonzales Garcia Perez, enter her name accordingly:

How to proceed with one-time business partners (one-time accounts)

For one-time business partners (one-time accounts), follow the same recommendations as for business partners of type Organization. That is, use the Natural Person checkbox to specify if your one-time business partner is a company or a natural person. Also, enter the complete name of your business partner in the Name field 1.

We hope this post helps you to create your company’s master data. If you have doubts, leave us a comment below and we’ll reply as soon as possible. 🙂

Follow the SAP S/4HANA Finance tag to stay tuned on Magnetic Media latest news.

Until the next post,

Rosana

 

 

If you enjoyed this post, you may be also interested in this one: Magnetic Media Compliance Report: The 1007 Report Format

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