What is F110?
F110 is a payment program that allows you to make batch outgoing payments to vendors or customers automatically. The procedure is referred to as a payment run. A payment run is typically executed on a periodic basis, such as at every end of the month or after every 15 days.
The payment program accesses information from various sources in the system, including those that are predefined or configured for the company entity (company code). Some of these are:
The open items that are due for payment.
The payment methods to be used for the vendor or customer, for example, payment by check or bank transfer. The payment method is defined in the vendor/customer master record or in the open item levels.
The house bank and the bank account to use. This information is defined by the payment method selected for the vendor/customer.
Which of the following are prerequisites of F110?
- Payment method