What is payer/payee in SAP FI-CA - Contract Accounts Receivable and Payable?

SAP Term: payer/payee

• Component: FI-CA

• Component Name: Contract Accounts Receivable and Payable

• Description: Business partner different to the contract partner, used to clear and pay the items due from a contract account in a debit memo procedure. The open items of all accounts with the same payer are cleared and paid together via a one-time bank collection or a one-time payment.

Smart SAP Assistant

• Key Concepts: 
  Payer/payee is a term used in SAP's Financial Contract Accounts Receivable and Payable (FI-CA) component. It refers to the two parties involved in a financial transaction, the payer and the payee. The payer is the party responsible for making the payment, while the payee is the party receiving the payment. 
  
  How to use it: 
  In SAP FI-CA, payer/payee is used to identify the two parties involved in a financial transaction. The payer is identified by entering their name and address in the “Payer” field, while the payee is identified by entering their name and address in the “Payee” field. Once both parties have been identified, the transaction can be processed. 
  
  Tips & Tricks: 
  When entering information for either the payer or payee, it is important to ensure that all of the information is accurate and up-to-date. This will help to ensure that payments are made correctly and on time. 
  
  Related Information: 
  For more information on SAP FI-CA, please refer to SAP's official documentation at https://help.sap.com/viewer/product/FI_CA/731/en-US.