What is postal order in SAP FI-CA - Contract Accounts Receivable and Payable?

SAP Term: postal order

• Component: FI-CA

• Component Name: Contract Accounts Receivable and Payable

• Description: Payment media format for outgoing payments Instruction to the post office to pay an amount in cash to the recipient named in the instruction. Example A company wants to pay out a credit to a business partner, but only has the business partner's address and no bank details. In this case, the company can use a postal order to pay the amount due to the business partner instead of a check.

Smart SAP Assistant

• Key Concepts: 
  A postal order is a payment method used in the FI-CA Contract Accounts Receivable and Payable component of SAP. It is a type of payment order that is issued by a post office and can be used to pay for goods or services. The postal order is sent to the recipient, who then presents it to the post office for payment.
  
  How to use it: 
  In SAP, a postal order can be used as a payment method for invoices. To do this, the user must first create a payment request in the system. This request will include the details of the invoice, such as the amount due and the recipient’s address. The user then selects “postal order” as the payment method and enters the details of the postal order. Once this is done, the payment request can be submitted for processing.
  
  Tips & Tricks: 
  When using postal orders as a payment method in SAP, it is important to ensure that all details are correct before submitting the payment request. This includes double-checking that the amount due matches the amount on the postal order and that all other details are correct.
  
  Related Information: 
  Postal orders are just one of many payment methods available in SAP. Other payment methods include bank transfers, credit cards, and PayPal. Each of these methods has its own advantages and disadvantages, so it is important to consider which one is best suited for each situation.