What is standing request in SAP FI-CA - Contract Accounts Receivable and Payable?

SAP Term: standing request

• Component: FI-CA

• Component Name: Contract Accounts Receivable and Payable

• Description: Template for creating periodically recurring postings.

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• Key Concepts: 
  A standing request is a type of payment request in the FI-CA Contract Accounts Receivable and Payable component of SAP. It is used to automate the payment process for recurring payments, such as rent or utility bills. The standing request can be set up to run at regular intervals, such as monthly or quarterly, and will automatically generate a payment request for the specified amount.
  
  How to use it: 
  To set up a standing request in SAP, first navigate to the FI-CA Contract Accounts Receivable and Payable component. Then select the “Standing Requests” option from the menu. From here, you can enter the details of the payment request, such as the amount, frequency, and payment method. Once you have entered all of the necessary information, click “Save” to create the standing request.
  
  Tips & Tricks: 
  When setting up a standing request in SAP, it is important to double-check all of the information before saving it. This will ensure that the payment request is generated correctly and on time. Additionally, it is a good idea to review any existing standing requests periodically to make sure that they are still valid and up-to-date.
  
  Related Information: 
  For more information about setting up standing requests in SAP, please refer to the official SAP documentation. Additionally, there are many online tutorials and videos available that provide step-by-step instructions on how to set up a standing request in SAP.