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

prenotification - Overview

• Component: FI-CA

• Component Name: Contract Accounts Receivable and Payable

• Description: Notification of banks about existing debit memo agreements with business partners

prenotification - Details

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  Key Concepts: 
  Prenotification is a feature of the FI-CA Contract Accounts Receivable and Payable component of SAP. It allows users to create a payment plan for customers and vendors, and to send out notifications to them in advance of payments being due. This helps to ensure that payments are made on time and that customers and vendors are aware of their payment obligations. 
  
  How to use it: 
  To use prenotification, users must first create a payment plan for the customer or vendor. This can be done by entering the payment terms into the system, such as the amount due, the due date, and any discounts or other incentives that may be offered. Once the payment plan is created, users can then send out prenotification messages to the customer or vendor. These messages can be sent via email, SMS, or other methods. 
  
  Tips & Tricks: 
  When creating a payment plan for customers or vendors, it is important to ensure that all terms are clearly stated and that any discounts or incentives are clearly outlined. This will help to ensure that customers and vendors understand their payment obligations and are aware of any discounts or incentives they may be eligible for. Additionally, it is important to ensure that prenotification messages are sent out in a timely manner so that customers and vendors are aware of their payment