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Former Member

How to Trigger payment in advance

Hi Experts,

We have a number of large real estate rental contracts that we pay every month, and the process calls for us to make physical payments (i.e., paper check) by the 1st of every month. That means the check needs to be in the property owner's hands by the 1st. In order to do this, we needto trigger the process about 6 to 7 days in avance. It takes us 2 to 3 days to cut the check, plus another 2 to 4 days for the US mail to deliver. We need to figure out a way to A) leave the contract details as showing the payment due date of the 1st, and B) have SAP automatically prompt accounts payable to start the check creation process around a week early. We don't know how to pull this off- does anyone have any ideas how todo this with standard SAP functionality? There does not appear to be any way to set up a sort of "negative net" on the payment type, pay immediate will also cause the payment to be late due to the time it takes to cut & mail the check, and we can't set the contract date to an earlier date (such as the 24th). Any advice would be appreciated.

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1 Answer

  • Apr 02, 2015 at 11:24 PM

    Hi,

    I think you need to use work flow, but I am sorry I do not have much knowledge for work flow:)

    Regards,

    Bowen

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    • Hi Pawan,

      from RE-FX perspective you can trigger the posting of the due cashflow items already some days earlier if you select the due date accordingly in the periodic posting run and create the open items in FI in advance so that there is enough time to handle the payment process.

      The payment itself is created with the payment run (transaction F110) in component FI. The payment run decides if an item is processed or not using the next payment date.

      If you have more detailed questions about the payment process and F110 I would suggest to open a thread in the Financials area.

      Regards,

      Franz