What is accepting bank in SAP FI-LOC-CM-CN - China?

SAP Term: accepting bank

• Component: FI-LOC-CM-CN

• Component Name: China

• Description: Financial Accounting FI The bank that accepts a bill of exchange as a form of payment. Once accepted, the bill of exchange becomes an unconditional liability to the bank.

Smart SAP Assistant

• Key Concepts: 
  An accepting bank is a financial institution that is authorized to accept bills of exchange, such as promissory notes, drafts, and checks. In the context of SAP FI-LOC-CM-CN China, an accepting bank is a bank that is authorized to accept bills of exchange from customers in China. 
  
  How to use it: 
  In SAP FI-LOC-CM-CN China, an accepting bank can be used to process payments from customers in China. The accepting bank will receive the payment from the customer and then transfer the funds to the company’s account. 
  
  Tips & Tricks: 
  When setting up an accepting bank in SAP FI-LOC-CM-CN China, it is important to ensure that the bank is properly authorized to accept payments from customers in China. Additionally, it is important to ensure that the bank has sufficient funds available to process payments from customers in China. 
  
  Related Information: 
  For more information about setting up an accepting bank in SAP FI-LOC-CM-CN China, please refer to the SAP Help documentation. Additionally, you can contact your local SAP representative for more information about setting up an accepting bank in SAP FI-LOC-CM-CN China.