What is 'payer' in SAP AP - Application Platform?

payer - Overview

• Component: AP

• Component Name: Application Platform

• Description: A party that pays for goods or services.

payer - Details

• 
  Key Concepts: 
  A payer is an entity that is responsible for making payments to vendors or suppliers. In the SAP Application Platform (AP), a payer is a customer or vendor that is responsible for making payments to other customers or vendors. The payer can be an individual, a company, or an organization. 
  
  How to use it: 
  In the SAP AP, the payer is responsible for setting up payment terms and conditions with vendors and suppliers. The payer can also set up payment schedules and payment methods. The payer can also view and manage payment transactions, such as invoices, payments, and refunds. 
  
  Tips & Tricks: 
  When setting up payment terms and conditions with vendors and suppliers, it is important to ensure that all parties are in agreement on the terms and conditions. It is also important to ensure that all payment transactions are properly recorded in the SAP AP system. 
  
  Related Information: 
  The SAP AP system also includes features such as invoice processing, payment processing, and reconciliation of payments. Additionally, the SAP AP system can be used to track vendor performance and manage vendor relationships.