Internship← SAP learning pathSAP · Module 7 of 10
Finance in SAP and GST
How SAP records money and handles Indian taxes.
📖 Key ideas
- The general ledger (GL) holds all accounts: assets, liabilities, income, expenses.
- Accounts payable tracks what the company owes vendors; accounts receivable tracks what customers owe.
- In India, SAP calculates GST (CGST, SGST, IGST) on invoices using tax codes and master data.
- Every posting must balance: total debits equal total credits.
- Period-end closing produces the balance sheet and profit and loss reports.
💡 Real-life example: Like double-entry bookkeeping in a shop ledger, but every sale and purchase posts automatically and GST is worked out for you.
General ledgerMain set of accounts
Accounts payableMoney owed to vendors
Accounts receivableMoney owed by customers
GSTIndia's goods and services tax