What is 'relevant payments card' in SAP FI - Financial Accounting?

relevant payments card - Overview

• Component: FI

• Component Name: Financial Accounting

• Description: In Ireland, a form used by the principle contractor to record all the payments made to the subcontractors where the payments have been made without the deduction of relevant contracts tax RCT. The form is also known as form RCT 47.

relevant payments card - Details

• 
  Key Concepts: 
  Relevant payments card is a feature of SAP Financial Accounting (FI) that allows users to store and manage payment information for vendors and customers. This feature enables users to quickly and easily process payments, as well as track payment history. 
  
  How to use it: 
  To use the relevant payments card feature, users must first create a card for each vendor or customer. This card will contain all the necessary information for processing payments, such as bank account details, payment terms, and payment methods. Once the cards are created, users can then select the appropriate card when processing payments. 
  
  Tips & Tricks: 
  When creating relevant payments cards, it is important to ensure that all the necessary information is included. This will help to ensure that payments are processed quickly and accurately. Additionally, it is important to keep the cards up-to-date with any changes in payment information. 
  
  Related Information: 
  The relevant payments card feature is part of SAP Financial Accounting (FI). It is also related to other features such as vendor master data and customer master data. Additionally, it can be used in conjunction with other features such as payment terms and payment methods.