How the Payment Program Works
With the payment program you can process international payment transactions involving your customers and vendors.
House Banks, and
Forms you use must be defined or adapted before the payment run is executed.
If the above-mentioned steps are to be carried out automatically, the payment program requires the following information:
- Rules according to which it can determine the open items to be paid and, if expedient, group them together for payment. For example, you can specify grace periods for incoming items, which are taken into consideration when calculating the due date.
- Specifications for selecting the payee. You can enter an alternative payee in your customer/vendor's master record or in the document itself.
- Rules used by the payment program to select the payment methods. You can specify payment methods via your customer or vendor's master record or via the open items, or you can have the payment program select them using specified rules.
- Rules used by the payment program to select the house bank from which the payment is made. House banks are banks where your company (company code) maintains accounts. You can specify a house bank in your customer/vendor's master record or in the line item, or you can have the payment program select it using specified rules.
- Specifications for automatic postings. The payment program requires information such as document types, posting keys and accounts, in order to carry out the automatic postings.
You set the rules for controlling the payment program
- In the customer/vendor master record
- via configuration of the payment program
- With individual specifications for each payment run
You can find further information in
Payment Program Settings
The program processes open items in three steps (see the figure
Processing Open Items):
- It determines the open items to be paid and creates a proposal list. You can process the proposal list on-line. Among other things, you can change payment methods or banks, block items, or cancel payment blocks.
- The payment program carries out payment using the proposal list. The payment run includes only the open items contained in the proposal list. The payment program posts documents and provides the data for the form printout and for creating the data carriers, the payment advice notes and the payment summaries.
- It uses the print program to print the forms and create the data carriers.