What is plan payment agreement in SAP (FS-MCM-PDM - Payment Distribution and Monitoring)?

SAP Term: plan payment agreement

• Component: FS-MCM-PDM

• Component Name: Payment Distribution and Monitoring

• Description: Agreement upon the distribution of the deposits on and disbursements to the participant accounts in a PDM plan.

Smart SAP Assistant

• Key Concepts: 
  A plan payment agreement is a payment agreement in the SAP system that allows for the automatic payment of invoices. It is part of the Payment Distribution and Monitoring (PDM) component of the Financial Services Management (FS-MCM) module. The plan payment agreement defines the conditions under which payments are made, such as the payment method, payment currency, and payment date. 
  
  How to use it: 
  To create a plan payment agreement, go to the SAP menu and select Financial Services Management > Payment Distribution and Monitoring > Plan Payment Agreement. Enter the details of the agreement, such as the payment method, currency, and date. Once you have entered all of the necessary information, click “Save” to create the plan payment agreement. 
  
  Tips & Tricks: 
  When creating a plan payment agreement, it is important to ensure that all of the necessary information is entered correctly. This includes the payment method, currency, and date. Additionally, it is important to ensure that all of the invoices associated with the plan payment agreement are up-to-date and accurate. 
  
  Related Information: 
  For more information on plan payment agreements in SAP, please refer to SAP’s official documentation on Payment Distribution and Monitoring (PDM). Additionally, there are many online resources available that provide detailed instructions on how to create and manage plan payment agreements in SAP.