What is one-time payment in SAP PSM-GM - Grants Management?

SAP Term: one-time payment

• Component: PSM-GM

• Component Name: Grants Management

• Description: A general payment that occurs once that could be for a claim or other work performed within the framework of a grantor agreement. Example A contractor building low-income public housing encounters unforeseen costs that the grantor agrees fall within the framework of the agreement. A grantee may submit a claim for a one-time payment to pay for these costs in order to complete the project.

Smart SAP Assistant

• Key Concepts: 
  A one-time payment is a type of payment made in SAP Grants Management (PSM-GM) that is not recurring. It is a single payment made to a vendor or recipient for a specific purpose. This type of payment is typically used for one-off expenses such as travel, training, or other miscellaneous costs. 
  
  How to use it: 
  In SAP Grants Management, one-time payments are created using the “Create One-Time Payment” transaction. This transaction requires the user to enter the vendor or recipient information, the amount of the payment, and any additional details such as the purpose of the payment. Once all of the required information has been entered, the user can submit the transaction and the payment will be processed. 
  
  Tips & Tricks: 
  When creating a one-time payment in SAP Grants Management, it is important to ensure that all of the required information is entered accurately and completely. This will help to ensure that the payment is processed correctly and in a timely manner. Additionally, it is important to keep track of all one-time payments that have been made in order to ensure that they are accounted for properly. 
  
  Related Information: 
  For more information on creating one-time payments in SAP Grants Management, please refer to the official SAP documentation at https://help.sap.com/viewer/product/SAP_GRANTS_MANAGEMENT/7.0/en-US.