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Overview of a Bill of Exchange & customizing automatic outgoing payments

by The Tip Doctor

November 27, 2012

What happens when the standard process for automatic outgoing payment  - typically F110 - isn't enough?

Financials 2012 speaker Kees van Westerop shared his tips on meeting special business requirements - including a  Bill of Exchange - in his session "Key Tactics for Automating Outgoing Bank Payments." 

In this session, he dives into the details of each of these scenarios.Here we can only cover a quick excerpt - an overview of Bill of Exchange and where to find it in your SAP system and a brief overview of customizing settings:
Standard F110 payments vs. customization
For automatic outgoing payments, most companies use the standard program F110:
  • Simple procedure
  • Covers payments to vendors and collections from customers
  • Many standard file formats
  • Enables printing of all kind of forms
  • Generates automated bookings
  • Payment Medium Workbench (PMW) enables localizations
Nevertheless, the standard doesn’t cover all requirements.
Perhaps you have open items that should not be cleared, but the payment in transit must be booked. You may want to use a Bill of Exchange.

Bill of Exchange: Overview

  • Used frequently in countries like France, Spain, and Italy
  • Name depends on the country
  • It is a “check to yourself”
  • Can be endorsed by the payee
  • Usage of bills of exchange can be a complex procedure!  

Basic Principles — Payment Program Settings overview

  • Bill of Exchange requires special settings in the customizing of the payment program F110
  • Customizing transaction is FBZP
  • IMG Menu path for individual parts of FBZP:
    Financial Accounting >  Accounts Receivable and Accounts Payable > Business Transactions > Outgoing Payments > Automatic Outgoing Payments >  Payment Method/Bank Selection for Payment Program
 For more details on managing payments in your SAP system, visit Financials 2013  and the Financials Group here on Insider Learning Network.

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