What is pre-payment processing in SAP BNS-CON - Concur?

SAP Term: pre-payment processing

• Component: BNS-CON

• Component Name: Concur

• Description: The workflow step at which an expense report or request displays on the Requests Ready for Processing page.

Smart SAP Assistant

• Key Concepts: 
  Pre-payment processing is a feature of the BNS-CON Concur component of SAP software. It allows companies to make payments to vendors before goods or services are received. This helps to ensure that vendors are paid on time and that companies can take advantage of discounts for early payment. 
  
  How to use it: 
  To use pre-payment processing, companies must first set up a vendor master record in SAP. This record contains information about the vendor, such as their payment terms and bank details. Once the vendor master record is set up, companies can create a pre-payment request in SAP. This request includes details about the payment, such as the amount, currency, and payment date. The request is then sent to the vendor for approval. Once approved, the payment is processed and the vendor is paid. 
  
  Tips & Tricks: 
  When setting up a vendor master record in SAP, it is important to ensure that all of the information is accurate and up-to-date. This will help to ensure that payments are processed quickly and accurately. Additionally, it is important to keep track of pre-payment requests in SAP so that companies can easily monitor their payments and ensure that vendors are paid on time. 
  
  Related Information: 
  For more information about pre-payment processing in SAP, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/BNS_CON_CONCUR/latest/en-US/f8d7f9a2b3e14c8a9f3d7c2b6f5e4d1a.html