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How to Trigger Payment in Advance

Financials (FI, CO, TR, EC)

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How to Trigger Payment in Advance

Postby tewtj » Sun Mar 22, 2015 1:30 am

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 need to 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 to do 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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Re: How to Trigger Payment in Advance

Postby darkduck » Tue Mar 24, 2015 3:47 am

You can increase the payment horizon (i.e. "next payment run date") in the Payment Proposal F110.

http://www.sapexpert.co.uk
SAP FI FAQ: http://en.sap.darkduck.com

Just before submitting any question, have a look at http://www.catb.org/~esr/faqs/smart-questions.html please...
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Re: How to Trigger Payment in Advance

Postby tewtj » Tue Mar 24, 2015 1:07 pm

Thank you so much, we will look into the call horizon as you suggested. I will be sure to let you know in a day or so how this works out for us. Once again, my thanks for your support!
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Re: How to Trigger Payment in Advance

Postby FICOCOPA » Sun Apr 05, 2015 6:58 pm

Set up recurring entries or recurring invoices in SAP with transaction code FBD1 - Recurring Entry Document
Define run schedule and run dates in IMG

Or

Use Start run date 23rd of the month and year end run date also 23rd of the month and year
Interval period is month is 1
Make sure your vendor payment term is Net0
Also make sure when you are setting entry to verify base line date
Once entry is setup
Debit rent expenses $$$$
Credit Vendor $$$$
Set up auto run the job in background in SAP transaction code F.14 – Execute
Once this JOB is run on 23rd then executes SM35 session to post
Now you have rent invoice posted on 23rd of the month with Net0 and will be picked up for payment in next payment run
Please let me know if this is good

Regards
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