What is periodic payment in SAP (PSM-GM - Grants Management)?

SAP Term: periodic payment

• Component: PSM-GM

• Component Name: Grants Management

• Description: Funding setup where predetermined amounts are sent at intervals to the grantee without regard to actual, eligible expenditures made. Compare: lump sum funding, reimbursement funding

Smart SAP Assistant

• Key Concepts: 
  Periodic Payment is a feature of the Grants Management (PSM-GM) component of SAP. It allows for the automatic payment of grants and other payments on a regular basis. This feature helps to streamline the payment process and ensure that payments are made on time. 
  
  How to use it: 
  To use the Periodic Payment feature, you must first set up a payment schedule. This can be done by entering the payment details into the system, such as the amount, frequency, and date of payment. Once this is done, the system will automatically generate payments according to the schedule. 
  
  Tips & Tricks: 
  It is important to ensure that all payment details are accurate before setting up a payment schedule. This will help to avoid any delays or errors in payments. Additionally, it is important to review the payment schedule regularly to ensure that it is still up-to-date and accurate. 
  
  Related Information: 
  For more information about the Periodic Payment feature of SAP Grants Management (PSM-GM), please refer to the official SAP documentation. Additionally, there are many online resources available that provide helpful tips and tricks for using this feature.