What is payment directive type in SAP FS-MCM - Master Contract Management?

SAP Term: payment directive type

• Component: FS-MCM

• Component Name: Master Contract Management

• Description: Characteristic of a payment directive type that a customer defines. &EXAMPLE& EFT bank transfer of capital: time deposit EFT debit of remaining balance when the account is deleted Cash desk disbursement of remaining balance when the account is deleted Check PF payment with a clearing check PF.

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• Key Concepts: 
  Payment Directive Type is a feature of SAP FS-MCM Master Contract Management that allows users to define payment instructions for a contract. It is used to define the payment terms and conditions for a contract, such as the payment method, payment frequency, and payment amount. 
  
  How to use it: 
  To use Payment Directive Type, users must first create a contract in SAP FS-MCM Master Contract Management. Once the contract is created, users can then define the payment terms and conditions by selecting the Payment Directive Type option from the menu. From there, users can select the desired payment method, frequency, and amount. 
  
  Tips & Tricks: 
  When defining Payment Directive Types, it is important to ensure that all of the necessary information is included. This includes the payment method, frequency, and amount. Additionally, it is important to ensure that all of the information is accurate and up-to-date. 
  
  Related Information: 
  For more information on Payment Directive Types in SAP FS-MCM Master Contract Management, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed tutorials on how to use this feature.