What is company initiated payment in SAP FI-CA - Contract Accounts Receivable and Payable?

SAP Term: company initiated payment

• Component: FI-CA

• Component Name: Contract Accounts Receivable and Payable

• Description: Quality Management QM Payment made by an enterprise to a business partner or taken from a business partner.

Smart SAP Assistant

• Key Concepts: 
  Company initiated payment is a feature of the FI-CA Contract Accounts Receivable and Payable component of SAP. It allows companies to initiate payments to customers or vendors without having to manually enter the payment information. This feature helps streamline the payment process and reduce manual data entry.
  
  How to use it: 
  To use the company initiated payment feature, you must first set up the payment terms in the system. This includes setting up the payment method, payment currency, and payment date. Once these are set up, you can then initiate payments from within the system. You can also set up automatic payments for recurring transactions.
  
  Tips & Tricks: 
  When setting up company initiated payments, it is important to ensure that all of the payment information is accurate and up-to-date. This will help ensure that payments are processed correctly and on time. Additionally, it is important to review all of the payment terms before initiating a payment to ensure that they are correct.
  
  Related Information: 
  For more information on company initiated payments in SAP FI-CA Contract Accounts Receivable and Payable, please refer to the SAP Help documentation. Additionally, there are many online resources available that provide detailed instructions on how to set up and use this feature.