What is 'payment agreement' in SAP FI-CA - Contract Accounts Receivable and Payable?

payment agreement - Overview

• Component: FI-CA

• Component Name: Contract Accounts Receivable and Payable

• Description: In Brazil, an agreement established between a company and a bank, whereby the company authorizes the bank to accept its customer payments. As defined in the agreement, the bank then transfers these payments to a specified house bank of the company. A company may have such payment agreements with multiple banks including their own house banks, and it may even establish more than one agreement per bank for each type of payment method. In Portuguese, the payment agreement is known as convênio.

payment agreement - Details

• 
  Key Concepts: 
  A payment agreement is a contract between two parties that outlines the terms of payment for goods or services. In SAP, payment agreements are used in the FI-CA Contract Accounts Receivable and Payable component to manage customer and vendor payments. The payment agreement defines the payment terms, such as the due date, payment method, and any discounts or penalties associated with late payments.
  
  How to use it: 
  To create a payment agreement in SAP, go to the FI-CA Contract Accounts Receivable and Payable component. Select the “Create Payment Agreement” option from the menu. Enter the details of the agreement, such as the customer or vendor name, payment terms, and any discounts or penalties associated with late payments. Once you have entered all of the information, click “Save” to create the payment agreement.
  
  Tips & Tricks: 
  When creating a payment agreement in SAP, make sure to double-check all of the information you have entered. This will help ensure that all of the details are correct and that there are no discrepancies between what was agreed upon and what is actually in the system.
  
  Related Information: 
  For more information on payment agreements in SAP, please refer to the FI-CA Contract Accounts Receivable and Payable documentation.