What is 'ATC' in SAP FI-AP - Accounts Payable?

ATC - Overview

• Component: FI-AP

• Component Name: Accounts Payable

• Description: alphanumeric tax code A code used to classify taxes on tax returns used in the Philippines. In the SAP System, ATCs are represented by official withholding tax keys.

ATC - Details

• 
  Key Concepts: 
  ATC stands for Automatic Payment Program. It is a feature of the FI-AP Accounts Payable component of SAP that automates the payment process. It allows users to set up payment runs and schedule payments to vendors, eliminating the need for manual payment processing. 
  
  How to use it: 
  To use ATC, users must first set up payment runs and define the criteria for each run. This includes setting up payment methods, payment terms, and other parameters. Once the payment runs are set up, users can schedule payments to vendors and ATC will automatically process them according to the criteria defined in the payment run. 
  
  Tips & Tricks: 
  When setting up payment runs, it is important to ensure that all of the criteria are properly defined in order for ATC to process payments correctly. Additionally, it is important to review the payment runs regularly to ensure that they are up-to-date and accurate. 
  
  Related Information: 
  For more information on ATC and how to use it, please refer to SAP's documentation on FI-AP Accounts Payable. Additionally, there are many online tutorials available that provide step-by-step instructions on how to set up and use ATC.