What is 'payee' in SAP FI - Financial Accounting?

payee - Overview

• Component: FI

• Component Name: Financial Accounting

• Description: A business partner to whom payments are made.

payee - Details

• 
  Key Concepts: 
  A payee is an individual or organization that receives payment from a payer for goods or services. In SAP Financial Accounting (FI), the payee is the vendor or customer to whom the payment is made. The payee is identified by a vendor or customer number. 
  
  How to use it: 
  In SAP FI, the payee is identified by a vendor or customer number. This number is used to create a payment document, which is then used to make the payment. The payment document contains information about the payee, such as their name and address, as well as the amount of the payment. 
  
  Tips & Tricks: 
  When creating a payment document in SAP FI, it is important to ensure that the correct payee is selected. This can be done by entering the vendor or customer number in the search field. It is also important to double-check that all of the information about the payee is correct before submitting the payment document. 
  
  Related Information: 
  In SAP FI, payments can be made using various methods, such as checks, wire transfers, and electronic payments. For more information on how to make payments in SAP FI, please refer to the SAP Help documentation.