What is target account in SAP FS-PE - Payment Engine?

SAP Term: target account

• Component: FS-PE

• Component Name: Payment Engine

• Description: The account bank number and account number of the paying party of the target item.

Smart SAP Assistant

• Key Concepts: 
  Target account is a term used in the SAP FS-PE Payment Engine component. It is an account that is used to receive payments from customers or other external entities. The target account can be a bank account, a credit card, or any other type of payment method. 
  
  How to use it: 
  The target account is used to receive payments from customers or other external entities. The payment engine component of SAP FS-PE allows users to set up and manage target accounts. This includes setting up the account details, such as the bank account number, the currency, and the payment method. Once the target account is set up, users can then process payments from customers or other external entities. 
  
  Tips & Tricks: 
  When setting up a target account in SAP FS-PE, it is important to ensure that all of the details are correct and up-to-date. This will help ensure that payments are processed correctly and efficiently. Additionally, it is important to keep track of all payments made to and from the target account in order to ensure accuracy and compliance with financial regulations. 
  
  Related Information: 
  For more information on setting up and managing target accounts in SAP FS-PE, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed tutorials on how to use the payment engine component of SAP FS-PE.