What is bank check in SAP FS-AM-IM - Item Management?

SAP Term: bank check

• Component: FS-AM-IM

• Component Name: Item Management

• Description: A payment form that is created by means of a payment order. The posting amount of the order is posted from a business partner account to an internal bank account and a bank check for the amount is sent to a selected recipient.

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• Key Concepts: 
  A bank check is a payment instrument used in SAP Financial Services Asset Management (FS-AM-IM) Item Management. It is a type of check issued by a bank and drawn on its own funds. The check is typically used to pay for goods and services, and it is usually accepted by the recipient as payment in full. 
  
  How to use it: 
  In SAP FS-AM-IM Item Management, a bank check can be used to pay for goods and services. To do this, the user must enter the details of the check into the system, including the amount, date, and payee. The system will then generate a check that can be printed and sent to the recipient. 
  
  Tips & Tricks: 
  When entering the details of a bank check into SAP FS-AM-IM Item Management, it is important to double-check all of the information before printing the check. This will ensure that the payment is processed correctly and that there are no errors in the transaction. 
  
  Related Information: 
  SAP FS-AM-IM Item Management also supports other types of payment instruments, such as credit cards and electronic transfers. For more information on these payment methods, please refer to the SAP documentation.