How does the Approve Bank Payments App function? In this fast moving world, we need a solid solution that can optimize all the payments at a click while letting you accept it on the go. Let’s understand in detail about concepts such as Payment Centralization and Automated payments in SAP Banking and treasury automation software.
The below image shows the various batch files that are sent for approval.
Through ERP Bank Connectivity, the payment batch files which are the Automatic Payment Run app – the payment must be approved by the respective manager through the Approve Bank Payments App.
Batches can be approved on whole only.
When the Approve Bank Payment app is opened, you can filter all the approvals sent to you in Multicash payment factory by:
The batch payment can be selected and approved or rejected. If further details are required, then that payment batch can be opened to view further details. The image below shows the various payments batches waiting for approval.
Payment batch shows the detailed payments made for every invoice that are due for payment. The due date is calculated based on the payment terms given in the customer and the invoice date. When the invoices are due for payment, they are included in the automatic payment run.
The below image shows a batch payment file that is opened. It consists of the individual payments that are to be cleared.
The level of details provided in the individual payments are so detailed that they can be tracked all the way back to a payment invoice. This perfectly tracks documentation of all the invoices and their corresponding clearing journals in one flow.
All the details such as
The Approve Bank Payments app also allows More Link features from each of the payment journal to open the follow:
Which can drill down to provide additional details about the invoice payment.
The Approve Bank Payments app also has a feature to Defer an payment batch from approval. This will allow the approver to check/verify the payment details of the batch and approve the payment in a future.
By providing the necessary details, you can get the payment approval process done using SAP BCM. Do you need more information? Let iQuantM explain about Financial services network, Bank integration, Corporate connectivity, treasury management and SAP FSN Connector.
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