What is Clearing House Payment Order in SAP AP-PAY - FIN Payment Processing?

SAP Term: Clearing House Payment Order

• Component: AP-PAY

• Component Name: FIN Payment Processing

• Description: An order to a clearing house for card payments to settle an incoming card payment using a clearing house account.

Smart SAP Assistant

• Key Concepts: 
  Clearing House Payment Order is a payment method used in the SAP system to process payments through a clearing house. It is used to transfer funds from one bank account to another, and is typically used for large payments. The payment is processed through a clearing house, which acts as an intermediary between the two banks. The clearing house ensures that the payment is secure and that the funds are transferred correctly. 
  
  How to use it: 
  In order to use Clearing House Payment Order, you must first set up a clearing house account in the SAP system. Once this is done, you can create a payment order in the system and select the Clearing House Payment Order option. You will then need to enter the details of the payment, such as the amount, date, and bank account information. Once this is done, you can submit the payment order and it will be processed through the clearing house. 
  
  Tips & Tricks: 
  When using Clearing House Payment Order, it is important to ensure that all of the details are correct before submitting the payment order. This will help to ensure that the payment is processed correctly and that there are no delays or errors. Additionally, it is important to keep track of all payments made through Clearing House Payment Order so that you can easily reconcile them with your bank statements. 
  
  Related Information: 
  For more information on Clearing House Payment Order, please refer to SAP Help documentation on AP-PAY FIN Payment Processing. Additionally, you can find more information on how to set up a clearing house account in SAP in the SAP Help documentation on Financial Accounting (FI).