What is cover payment matching in SAP FS-PE - Payment Engine?

SAP Term: cover payment matching

• Component: FS-PE

• Component Name: Payment Engine

• Description: A matching of payments to ensure the coverage of funds in a credit transfer between two financial institutions where there is no direct account relationship.

Smart SAP Assistant

• Key Concepts: 
  Cover payment matching is a feature of the SAP FS-PE Payment Engine component. It allows for the automatic matching of incoming payments with open invoices. This helps to reduce manual effort and improve accuracy in the payment process. 
  
  How to use it: 
  To use cover payment matching, the user must first set up the payment engine in the SAP system. This includes defining the payment methods, setting up the payment rules, and configuring the cover payment matching parameters. Once this is done, incoming payments can be automatically matched with open invoices. 
  
  Tips & Tricks: 
  When setting up cover payment matching, it is important to ensure that all relevant parameters are configured correctly. This will help to ensure that payments are matched accurately and efficiently. Additionally, it is important to regularly review and update the cover payment matching parameters as needed. 
  
  Related Information: 
  For more information on cover payment matching, please refer to the SAP Help documentation on FS-PE Payment Engine. Additionally, there are several online resources available that provide detailed instructions on how to set up and use cover payment matching in SAP.