What is request for cancellation in SAP FS-PE - Payment Engine?

SAP Term: request for cancellation

• Component: FS-PE

• Component Name: Payment Engine

• Description: Single Euro Payments Area SEPA procedure in which the creditor recalls a payment instruction and the debtor accepts the recall by due date.

Smart SAP Assistant

• Key Concepts: 
  Request for cancellation is a feature in the SAP FS-PE Payment Engine that allows users to cancel a payment request before it is processed. This feature is useful for correcting errors or canceling payments that are no longer needed. 
  
  How to use it: 
  To use the request for cancellation feature, users must first select the payment request they wish to cancel. Then, they must select the “Cancel” option from the menu. This will open a confirmation window where users can confirm their decision to cancel the payment request. 
  
  Tips & Tricks: 
  It is important to note that once a payment request has been canceled, it cannot be undone. Therefore, it is important to double-check all information before canceling a payment request. Additionally, users should be aware that canceling a payment request may have an impact on other related processes or transactions. 
  
  Related Information: 
  For more information about the request for cancellation feature in SAP FS-PE Payment Engine, please refer to the official SAP documentation. Additionally, users can contact their SAP support team for further assistance with this feature.