How to set up automatic payments in SAP?

Setting up automatic payments in SAP involves a systematic process to streamline and simplify payment procedures for businesses. First, configure the payment program by defining company codes, payment methods, and payment medium formats. Next, define the payment variants to specify selection criteria for invoices and vendors. Then, assign payment variants to the appropriate company codes and create payment method supplements for specific requirements. Additionally, define the necessary master data like vendor bank details and payment terms. Finally, schedule the payment run by selecting the payment variant, adjusting additional parameters, and executing the program. This method enables businesses to automate payment processes, saving time and reducing manual errors.

This mind map was published on 11 July 2023 and has been viewed 59 times.