What is 'payment block' in SAP FI - Financial Accounting?

payment block - Overview

• Component: FI

• Component Name: Financial Accounting

• Description: A key that is used in Accounting, for example, in customer master data. When a payment block is set for an item or an account, that item or account is blocked for payments.

payment block - Details

• 
  Key Concepts: 
  Payment block is a feature in SAP Financial Accounting (FI) that allows users to block payments from being made. This feature is used to prevent payments from being made until certain conditions are met, such as the completion of an audit or the approval of a manager. The payment block can be set up for individual vendors or for all vendors in a company. 
  
  How to use it: 
  Payment blocks can be set up in the SAP system by going to the “Vendor Master” tab and selecting the “Payment Block” option. From there, users can select the vendor or vendors they want to block payments for and enter the reason for the block. Once the payment block is set up, any payments made to that vendor will be blocked until the payment block is removed. 
  
  Tips & Tricks: 
  It is important to remember that payment blocks can only be set up for individual vendors or all vendors in a company, not for specific invoices or payments. Additionally, it is important to note that payment blocks can only be removed by an authorized user with the appropriate permissions. 
  
  Related Information: 
  For more information on payment blocks in SAP FI, please refer to SAP Help documentation at https://help.sap.com/viewer/product/SAP_FI/6.0/en-US/f3d8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b14e8f9a7c2b1/.