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author's profile photo Former Member
Former Member

IHC - Payment order vs Payment Item

Hello Gurus

Could you please clarify the difference between Payment Order and Payment Item.

At what stage the payment item gets generated?

At what stage the payment order gets generated? - I believe 2 payment items are making 1 payment order, please clarify.

We are using an old version of IHC, believe there is a new concept called the IHC Payment Order. We do not have this, we are using the classic Payment Order concept in old IHC.

Reg

Swap

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  • author's profile photo Former Member
    Former Member
    Posted on Jul 22, 2016 at 07:57 AM

    Hello Swap,

    A payment item is an individual posting on a current account. The payment item can either originate from an internally initiated payment transaction (entered directly or during posting of a payment order) or from an externally initiated payment transaction.

    An item can be posted, parked, or placed in postprocessing. The status Parked means that it has already been assigned to an account but is not yet included in the account balance. A payment item is a one-sided turnover on a current account, representing either a credit or a debit.

    A payment order is used to enter a payment transaction. An IHC payment order documents a payment from a bank account to a recipient account and contains a payer and a recipient position. The IHC payment order holds these payment items together but strictly speaking it does not post anything.

    There are various types of IHC payment orders:

    Internal IHC payment orders: IHC payment orders with a payment order recipient in the same group. In this case the system generates internal posting items.

    External IHC payment orders: IHC payment orders with a payment order recipient not in the same group. In this case the system passes the recipient items to the external system for payment transactions which in turn forwards the postings to the relevant subledger.

    I hope this information is helpful for you! 😊

    Regards,

    Carolina

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