What is agent bank in SAP PSM-FM - Funds Management?

SAP Term: agent bank

• Component: PSM-FM

• Component Name: Funds Management

• Description: A regional commercial bank that makes budget payments on behalf of a budget unit. The agent bank is reimbursed by the central bank from the corresponding treasury account of the budget unit.

Smart SAP Assistant

• Key Concepts: 
  Agent Bank is a term used in SAP Funds Management (PSM-FM) to refer to a bank that acts as an intermediary between the company and its customers. The agent bank is responsible for handling payments, collecting receivables, and managing liquidity. It also provides services such as foreign exchange transactions, cash management, and other banking services. 
  
  How to use it: 
  In SAP Funds Management, the agent bank is used to manage payments and receivables. It can be used to process payments from customers, collect receivables, and manage liquidity. It can also be used to facilitate foreign exchange transactions and cash management services. 
  
  Tips & Tricks: 
  When setting up an agent bank in SAP Funds Management, it is important to ensure that the bank is properly configured and that all necessary information is provided. This includes the bank's contact information, account numbers, and other relevant details. Additionally, it is important to ensure that the bank is properly integrated with other systems in order to ensure smooth operations. 
  
  Related Information: 
  For more information on agent banks in SAP Funds Management, please refer to the official SAP documentation. Additionally, there are several online resources available that provide detailed information on how to set up and use agent banks in SAP Funds Management.