What is Payment Media Deposit Creation Run in SAP AP-PAY - FIN Payment Processing?

SAP Term: Payment Media Deposit Creation Run

• Component: AP-PAY

• Component Name: FIN Payment Processing

• Description: The specification of an automated run that creates payment media deposits to be submitted to a house bank based on bills of exchange receivable and incoming checks.

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• Key Concepts: 
  Payment Media Deposit Creation Run is a component of the SAP Payment Processing module in the Financial Accounting (FI) application. It is used to create a deposit for payments that have been received via payment media such as checks, money orders, and bank transfers. The deposit is then posted to the general ledger and the payment is processed. 
  
  How to use it: 
  To use Payment Media Deposit Creation Run, first select the payment media type from the drop-down menu. Then enter the payment details such as the amount, date, and bank account number. Once all of the information has been entered, click “Create Deposit” to generate a deposit for the payment. The deposit will then be posted to the general ledger and the payment will be processed. 
  
  Tips & Tricks: 
  It is important to double-check all of the information entered into Payment Media Deposit Creation Run before creating a deposit. This will ensure that all of the details are correct and that there are no errors in the process. Additionally, it is important to keep track of all deposits created in order to easily reconcile them with payments received. 
  
  Related Information: 
  Payment Media Deposit Creation Run is part of SAP’s Payment Processing module in Financial Accounting (FI). Other components of this module include Payment Medium Workbench, Payment Medium Formatting, and Payment Medium Validation. Additionally, SAP also offers a range of other financial accounting applications such as Accounts Payable (AP), Accounts Receivable (AR), and Bank Accounting (BA).