Payment Details 

Use

You enter the data (such as bank details and payment methods) that is required for payments between your own company and your business partner in the payment details of a financial transaction.

Prerequisites

If you have maintained the payment details in the standing instructions, they are proposed as a default when you create a transaction based on the product type, transaction type and currency. Otherwise, you can enter them individually in the transaction.

Activities

The Input Help for Payment Details tells you which entry fields are required and which are optional in the transaction.

When you save the transaction, the payment details you entered are saved.

Features

In addition to the Payer/payee of transaction (= business partner) named in the basic data screen, you can also see the partner entered as the Alternative payer/payee.

 Payer/payee and alternative payer/payee:

1. If the business partner is a house bank, then payment using the payment programs and an entry in the payer/payee field are not required as long as this house bank supports clearing between the sender and receiver accounts.

2. If the business partner is not a house bank, then you must enter a payer/payee in the payment details for the transaction.

¡        BP itself makes/receives payment: The business partner is proposed by the system as the payer/payee provided that the bank details are maintained in the business partner’s master record.

¡        BP does not make/receive payment itself: In this case, another business partner has to be entered as the alternative payer/payee, and those bank details must be in the system.

Regardless of whether or not the business partner makes/receives payment itself, the following applies:

The entry in the Payer/payee field specifies for whom the payment is being made or received. The account to which payment is made depends on the master record of the business partner entered as the payer/payee in the payment details of the transaction.

...

                            a.      The business partner specified as the payer/payee makes/receives his own payments: There is no Alternative payer entered in the master record of the business partner specified in the payment details for the transaction as payer/payee. He, therefore, usually makes his own payments. The bank details referenced in the payment details of the transaction are taken from the master record of the payer. If there is no Alternative payer entered in the master record of the payer/payee, payment is made to the account of this payee for this payee.

                            b.      The business partner specified as payer/payee always makes/receives his payments via a third party: There is an Alternative payer entered in the master record of the business partner specified in the payment details for the transaction as payer/payee. Payments for the business partner (entered in the transaction as payer/payee) are generally made via the account of the alternative payer. The bank details referenced in the payment details for the transaction are taken from the master record of the alternative payer. The alternative payer must be a business partner with bank details entered in the system. If there is an Alternative payer entered in the master record of the payer/payee, payment is made to the account of this alternative payee for the actual payee.

For more information, see Repetitive Codes, if you have implemented this function.