What is endorsee in SAP FI - Financial Accounting?

SAP Term: endorsee

• Component: FI

• Component Name: Financial Accounting

• Description: The recipient of a promissory note.

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• Key Concepts: 
  Endorsee is a term used in SAP Financial Accounting (FI) to refer to a person or entity that is authorized to receive payments on behalf of another person or entity. This authorization is usually granted by the original payee, and the endorsee is then responsible for delivering the payment to the original payee. 
  
  How to use it: 
  In SAP FI, endorsee can be used to facilitate payments from one party to another. For example, if a company wants to make a payment to an employee, but the employee does not have a bank account, the company can authorize an endorsee to receive the payment on behalf of the employee and then deliver it to them. 
  
  Tips & Tricks: 
  When setting up an endorsee in SAP FI, it is important to ensure that all relevant information is included in the setup. This includes the name and address of the endorsee, as well as any other information that may be required for the payment to be processed correctly. 
  
  Related Information: 
  Endorsee is related to other terms used in SAP FI such as payee and beneficiary. Payee refers to the person or entity that is receiving the payment, while beneficiary refers to the person or entity that will ultimately benefit from the payment.