What is collector creation in SAP FS-PE - Payment Engine?

SAP Term: collector creation

• Component: FS-PE

• Component Name: Payment Engine

• Description: Creation of a collector that is a collection of payment items based on a clearing agreement that has been set up with a business partner. You use collectors to bundle payment items for collective posting to internal accounts customer collector or to generate a single outgoing payment order to send to a financial institution or clearing house clearing collector.

Smart SAP Assistant

• Key Concepts: 
  Collector creation is a feature of the SAP FS-PE Payment Engine that allows users to create a collector, which is a payment recipient. The collector can be used to collect payments from multiple sources and can be used to manage the payments. 
  
  How to use it: 
  To create a collector, users must first log into the SAP FS-PE Payment Engine. Once logged in, users can select the “Create Collector” option from the main menu. This will open a form where users can enter the details of the collector, such as name, address, and payment methods. Once all the details are entered, users can submit the form and the collector will be created. 
  
  Tips & Tricks: 
  When creating a collector, it is important to ensure that all the details are accurate and up-to-date. This will help ensure that payments are received correctly and on time. Additionally, it is important to keep track of all collectors created in order to easily manage payments. 
  
  Related Information: 
  For more information on using the SAP FS-PE Payment Engine, please refer to the official documentation available on the SAP website. Additionally, there are many online tutorials available that provide step-by-step instructions on how to use this feature.