ERP CRM Interview Question:

What are the steps to run the Payment Run? Explain by point wise?

Submitted by: Administrator

The payment process consists of four steps:
1.Setting parameters: In this step, the following
questions are asked and
answered:
What is to be paid?
Which payment methods will be used?
When will the payment be made?
Which company codes will be considered?
How are they going to be paid?
2.Generating a proposal: The system starts the proposal
run after you have
entered the parameters. It generates a list of business
partners and open
invoices that are due for payment. Invoices can be blocked
or unblocked
for payment.
3.Scheduling the payment run: Once the payment list has
been verified,
the payment run is scheduled. A payment document is created
and the
general ledger and sub-ledger accounts are updated.
4.Printing the payment media: The accounting functions
are completed
and a separate print program is scheduled to generate the
payment media.
Submitted by: Administrator