What is 'on account payment' in SAP SRD-FIN-ACR - FIN-Receivables?

on account payment - Overview

• Component: SRD-FIN-ACR

• Component Name: FIN-Receivables

• Description: A payment applied to a customer account or supplier account without reference to a specific item.

on account payment - Details

• 
  Key Concepts: 
  On account payment is a type of payment in SAP that allows customers to pay for goods or services without providing a specific invoice. This type of payment is typically used when the customer has an existing balance with the vendor and the vendor wants to apply the payment to that balance. 
  
  How to use it: 
  In SAP, on account payments are processed through the SRD-FIN-ACR FIN-Receivables Management component. To process an on account payment, the user must first enter the customer’s account number and then enter the amount of the payment. The system will then apply the payment to the customer’s existing balance. 
  
  Tips & Tricks: 
  When processing an on account payment, it is important to ensure that the customer’s account number is entered correctly. This will ensure that the payment is applied to the correct customer’s balance. 
  
  Related Information: 
  For more information about on account payments in SAP, please refer to the SAP Help documentation for SRD-FIN-ACR FIN-Receivables Management.