What is payment advice in SAP SCM-ICH - Supply Network Collaboration?

SAP Term: payment advice

• Component: SCM-ICH

• Component Name: Supply Network Collaboration

• Description: A message sent to a business partner to notify them that a payment has been made and to explain the reason for the payment.

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• Key Concepts: 
  Payment advice is a document that is sent to a vendor by a buyer to inform them of the payment that has been made for goods or services. It is part of the Supply Network Collaboration (SCM-ICH) component of SAP. The payment advice document contains information such as the payment amount, payment date, and payment reference number. 
  
  How to use it: 
  In SAP, payment advice documents can be created and sent to vendors through the SCM-ICH component. To do this, the buyer must first enter the payment information into the system. This includes the payment amount, payment date, and payment reference number. Once this information is entered, the buyer can then generate a payment advice document and send it to the vendor. 
  
  Tips & Tricks: 
  When creating a payment advice document in SAP, it is important to double-check all of the information that is entered into the system. This includes the payment amount, payment date, and payment reference number. This will ensure that the vendor receives accurate information about the payment that has been made. 
  
  Related Information: 
  The SCM-ICH component of SAP also includes other features such as invoice verification and dispute management. These features can be used to ensure that invoices are accurate and disputes are resolved quickly and efficiently. Additionally, SCM-ICH can be used to track payments and monitor vendor performance.