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Eric introduces the concept of mandatory fields in Business Central, which are marked with red asterisks to indicate that they need to be filled out. Although it may seem like these fields are optional, there are clear indications that they should be completed. Eric demonstrates how to fill out mandatory fields while creating a new customer in the system and shows that the red asterisk disappears once a value is entered. He also points out that certain fields, like "tax liable," may not be mandatory for every customer.