Angeline Hazel Henry
We will now look at the technicality of the message instruction used by the payment cockpit topics such as Banking and treasury automation, Payment Centralization, SAP FSN Connector, Corporate connectivity and treasury management.
Three-Level Structured Message
The message that is delivered to the bank has a three-level structure maintained when it is generated by the Automatic Payment Transaction program (T-code F110) and converted to an ISO20022 based XML message. The three levels are:
Features of Payment Cockpit
The payment cockpit will help in maintaining the records of credits and direct-debit instructions sent to the bank. It also the process status of those records.
Payment cockpit in SAP BCM helps in tracking and retracing the detailed status-change history along with process log for every payment made via direct-debit or payment instruction.
The payment cockpit consists of the following statuses to track the payments
The report created post the payment run program and approvals will aid in documentation of the workflow’s history. A detailed step by step response for the payment medium acknowledgement and the sequence the messages are sent by the bank is given below in the diagram.
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The below table lists statuses that can be sent by the bank, their corresponding SAP statuses, and their descriptions:
There is a re-send instruction option for which there was no acknowledgement received from the bank, thus enabling re-sending of the payment medium file to bank (here the status of the instruction is Payment Medium Created).
For a payment group, the report generated by this program offers drill-down capability to view payment information IDs (PmtInf) as well as individual instruction details (CdtTrfInf for credit and Dbr\tTrfInf for debits). The report also provides links to the related payment documents for each instruction issued by you to the bank.
Data that can be displayed on the report after successful creation of Payment Medium File
The search options used for viewing the documentation history of workflow can be done via the following selection fields
With options such as viewing documentation history of workflow, you can get the required information with BCM Payment cockpit. All you need to do is follow simple steps to make the most out of payment cockpit to maintain the bank records. Be it Automated payments or Multicash payment factory, iQuantM can explain more about everything related to Financial services network.
Connect with iQuantM to know more about ERP Bank Connectivity and Bank integration.
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