What is 'clearing house order' in SAP SRD-FIN-MOP - FIN-Payment Management?

clearing house order - Overview

• Component: SRD-FIN-MOP

• Component Name: FIN-Payment Management

• Description: An order sent to a credit clearing house in order to settle an incoming credit card payment.

clearing house order - Details

• 
  Key Concepts: 
  A Clearing House Order (CHO) is a payment order that is used in SAP to initiate a payment to a vendor or customer. It is created in the SAP system and sent to the bank for processing. The CHO is used to transfer funds from one account to another, and it can be used for both domestic and international payments. 
  
  How to use it: 
  In order to create a CHO, you must first enter the necessary information into the SAP system. This includes the vendor or customer name, address, and bank details. Once this information is entered, you can then create the CHO by selecting the “Create Clearing House Order” option from the Payment Management menu. You will then be prompted to enter additional information such as the payment amount, currency, and payment date. Once all of this information is entered, you can then submit the CHO for processing. 
  
  Tips & Tricks: 
  When creating a CHO, it is important to double-check all of the information that you have entered into the system. This includes making sure that all of the bank details are correct and that the payment amount is accurate. Additionally, it is important to ensure that all of the necessary documents are attached to the CHO before submitting it for processing. 
  
  Related Information: 
  The Clearing House Order (CHO) feature in SAP