What is treasury confirmation in SAP PSM-FG - Functions for U.S. Federal Government?

SAP Term: treasury confirmation

• Component: PSM-FG

• Component Name: Functions for U.S. Federal Government

• Description: Process by which the US Federal Treasury makes payments to suppliers of goods and services on behalf of the Federal Government agencies who received the goods and/or services. The Treasury then confirms to the agencies that it has made the payments.

Smart SAP Assistant

• Key Concepts: 
  Treasury Confirmation is a component of the SAP PSM-FG Functions for U.S. Federal Government. It is used to manage the confirmation process for Treasury payments and receipts. It allows users to create, view, and manage confirmations for Treasury payments and receipts. It also provides a way to track the status of confirmations and to reconcile them with the general ledger.
  
  How to use it: 
  To use Treasury Confirmation, users must first create a confirmation document in the system. This document contains information about the payment or receipt, such as the amount, date, and type of transaction. Once the document is created, users can view and manage it in the system. They can also track the status of confirmations and reconcile them with the general ledger.
  
  Tips & Tricks: 
  When creating a confirmation document, it is important to ensure that all of the information is accurate and up-to-date. This will help ensure that all confirmations are processed correctly and that any discrepancies are quickly identified and resolved. Additionally, it is important to regularly review and reconcile confirmations with the general ledger to ensure accuracy.
  
  Related Information: 
  The SAP PSM-FG Functions for U.S. Federal Government also includes other components such as Payment Processing, Payment Reconciliation, and Payment Authorization. These components can be used in conjunction with Treasury Confirmation to provide a comprehensive solution for managing Treasury payments and receipts.