What is central payments in SAP FIN-FSCM-IHC - FSCM In-House Cash?

SAP Term: central payments

• Component: FIN-FSCM-IHC

• Component Name: FSCM In-House Cash

• Description: Payments made to external business partners using the In-House Cash Center to centrally process payments for participating affiliates.

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• Key Concepts: 
  Central payments is a component of SAP's Financial Supply Chain Management (FSCM) In-House Cash (IHC) module. It enables companies to manage their payments centrally, allowing them to streamline their payment processes and reduce costs. Central payments also provides a secure and efficient way to process payments, as well as the ability to track and monitor payments.
  
  How to use it: 
  Central payments can be used to manage all types of payments, including domestic and international payments. It allows companies to set up payment rules and automate the payment process. Companies can also use central payments to track and monitor payments, as well as view payment status and history.
  
  Tips & Tricks: 
  When setting up central payments, it is important to ensure that all payment rules are properly configured. This will help ensure that all payments are processed correctly and efficiently. Additionally, it is important to regularly review the payment rules to ensure that they are up-to-date and accurate.
  
  Related Information: 
  Central payments is part of SAP's FSCM In-House Cash module, which also includes other components such as cash management, liquidity management, and treasury management. Additionally, central payments can be integrated with other SAP modules such as Accounts Payable (AP) and Accounts Receivable (AR).