Payment Methods 

Use

There are four main payment methods used by companies in the United Kingdom:

·        C – Cheque

·        D – Direct debit

·        E – BACS transfer

·        V – International clearing

These four payment methods are delivered by SAP and assigned to the company code 0001 by the country installation program.

Activities

Check the payment methods assigned to the United Kingdom in Customizing for Financial Accounting, by choosing Accounts Receivable and Accounts Payable ® Business Transactions ® Outgoing Payments ® Automatic Outgoing Payments ®Payment Method/Bank Selection for Payment Program ® Set Up Payment Methods per Country for Payment Transactions.

For more information, see Payment Methods and Country-Specific Definitions for the Payment Method.