In SAP, we have APP (Automatic Payment Program) for vendors and customers to process payments and receivables requests. Automatic payment program reduces manual work load of end users. Automatic payment program is a time saving tool for end users. Through automatic payment program, we can check invoices and process due items, which cross credit period. APP also creates check point to avoid advance payments of vendors.
Through this automatic payment program, company can avail maximum discount, avoid interest charges levied for late payment and utilize maximum number of credit days. Company can process payments in local currency and parallel currency. End user can schedule future payments with this program.
Automatic payment program, search open items for vendors and due items for customer automatically. Then process the vendor open items for payment and customer due items for receivable. To process automatic payment program for customer, ‘Customer bank account details and authorization to collect the balance amount’ are the mandatory things.
Use TCode F110 to process automatic payment program
Enter ‘Run Date’ – the date on which you want to process the documents.
In Parameter, we can maintain the required details of vendor and customer to process automatic payment program. Like, define company code, vendor and customer range, payment method, next payment date, date of documents, exchange rate for foreign currency payments.
In additional log, we can check due date of the document and payment method mentioned in the document, if not mentioned then select payment method manually and an account required to check those settings.
After completing those steps system identify due items, which are block for payments or receivables. We can either remove the block or items from the payment process. When you done with this process, start payment program and collect the print copy.
For more details please refer to our blog Automatic Payment Program Configuration
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By Moreshwar Thawkar (on behalf of SAP Consulting Team)
SAP :: Streamlined
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