What is 'Manage Payment Plans' in SAP FI-FIO-AP - Fiori UI for Accounts Payable?

Manage Payment Plans - Overview

• Component: FI-FIO-AP

• Component Name: Fiori UI for Accounts Payable

• Description: An app for managing in one place all kinds of regular payment runs, such as payments to your suppliers and expense payments.

Manage Payment Plans - Details

• 
  Key Concepts: 
  Manage Payment Plans is a feature of the FI-FIO-AP Fiori UI for Accounts Payable component of SAP. It allows users to manage payment plans for vendors and customers, including setting up payment plans, changing payment terms, and tracking payments. This feature helps to streamline the accounts payable process and ensure that payments are made on time. 
  
  How to use it: 
  To use Manage Payment Plans, users must first set up a payment plan for a vendor or customer. This can be done by entering the payment terms, such as the amount due, the due date, and any discounts or fees associated with the payment. Once the payment plan is set up, users can track payments and make changes to the payment plan as needed. 
  
  Tips & Tricks: 
  When setting up a payment plan, 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 on time and that any changes to the payment plan are reflected in the system. Additionally, it is important to keep track of all payments made so that any discrepancies can be addressed quickly. 
  
  Related Information: 
  For more information about Manage Payment Plans, please refer to SAP’s documentation on Accounts Payable. Additionally, there are many online resources available that provide tips and tricks for using this feature