What is 'payment request' in SAP PSM-FM - Funds Management?

payment request - Overview

• Component: PSM-FM

• Component Name: Funds Management

• Description: Maps business transactions that involve outgoing payments. Each payment request contains at least one FI document, in which an FM account assignment and vendor are assigned to an account. In contrast to the standard function delivered with the component Financial Accounting, an FI document is allowed to contain only one subledger account item.

payment request - Details

• 
  Key Concepts: 
  A payment request is a document used in SAP Funds Management (PSM-FM) to initiate a payment. It is created by the responsible person in the organization and contains all the necessary information for the payment to be processed. The payment request is then sent to the bank for processing. 
  
  How to use it: 
  To create a payment request, go to the Funds Management module in SAP and select “Create Payment Request”. Enter all the necessary information such as the payee, amount, currency, and payment method. Once all the information is entered, click “Save” to create the payment request. 
  
  Tips & Tricks: 
  When creating a payment request, make sure to double-check all the information entered for accuracy. This will help ensure that the payment is processed correctly and on time. 
  
  Related Information: 
  For more information on creating and managing payment requests in SAP Funds Management, please refer to the official SAP documentation.