What is high amount check collection in SAP FS-PE - Payment Engine?

SAP Term: high amount check collection

• Component: FS-PE

• Component Name: Payment Engine

• Description: A review by the issuing and depository banks for payment of checks of high value.

Smart SAP Assistant

• Key Concepts: 
  High amount check collection is a feature of the SAP FS-PE Payment Engine that allows users to collect checks with a high amount value. This feature enables users to process large payments quickly and efficiently. It also helps to reduce the risk of fraud and errors associated with manual processing of large payments. 
  
  How to use it: 
  To use the high amount check collection feature, users must first set up the payment engine in their SAP system. Once the payment engine is set up, users can then configure the high amount check collection settings. This includes setting the maximum amount for each check, as well as any other parameters that need to be configured. Once the settings are configured, users can then process large payments using the high amount check collection feature. 
  
  Tips & Tricks: 
  When using the high amount check collection feature, it is important to ensure that all settings are configured correctly. This will help to ensure that payments are processed accurately and efficiently. Additionally, it is important to regularly review and update the settings as needed in order to ensure that they remain up-to-date and accurate. 
  
  Related Information: 
  For more information on how to use the high amount check collection feature in SAP FS-PE Payment Engine, please refer to the official SAP documentation. Additionally, there are many online resources available that provide helpful tips and tricks for using this feature.