Monitor Payments

Objectives

After completing this lesson, you will be able to:

  • Explain how to monitor payments

Monitor Payments

Due to a high number of daily payments, it is very easy to lose track of the payments. In the next example, we will now look at the functionality offered by the Monitor Payments app to keep an overview of the payments.

The Monitor Payments app combines all the needed information for approvers and managers alike so they can efficiently manage payments. Batches are clustered according to their status with additional details being available for every payment item. For payments with high amounts, it is possible to add approvers using Bank Communication Management, who need to approve the payments before they are processed. All payments are grouped in batches and the respective statuses can be checked in the Manage Payments app. Payments can either be paid automatically, or approved by an approver beforehand. (Our payments have always been automatically approved in our examples.)

With this, the complete lifecycle of payment can be monitored.

  • In the Monitor Payments app, the All Batches tab shows all batches regardless of their current status, with regard to the previously set filter criteria.
  • The New tab in the app displays the payment batches waiting for the first approval.
  • The In Approval tab shows batches that require more than one approval, after the first approval step.
  • The Approved tab lists all batches that are fully approved with the status, Payment Medium Created.
  • The next tab in the sequence is Sent to Bank. This shows all the batch items for which an acknowledgment was received from the external bank and uploaded to the SAP S/4HANA system.
  • In case the prior day statement is imported to the SAP S/4HANA system the system sets the lifecycle of the payment is Completed and set accordingly in the Monitor Payments app.
  • When there are problems in the payment processing, these will be displayed on the Exceptions tab.

Select the play button of the video to learn how to monitor payments and view the statuses of batches and individual payments using the Monitor Payments app. Explore various filter options and export batches to a CSV file.

Display Status of Payment Documents

With the Display Status of Payment Documents app, you can display an overview of your payment documents and their statuses. You can view the statuses of individual payments and their payment batches.

Select the play button of the video to learn how to use the display status of the payment documents app to view an overview of your payment documents and their statuses.

Cash Discount Utilization

With this Accounts Payable Overview app, you can monitor important accounts payable indicators and access the relevant accounts payable apps. You can use the filters to limit the data behind the indicators to the information most relevant for you.

The Accounts Payable Overview app links different apps together. It is a very powerful tile with many features. For us, the Cash Discount Utilization tile is interesting. This app shows the used or unused discount options on our invoices. It can monitor the cash discount utilization in real time within the responsible area. You can find out which company code or location needs to make better use of cash discounts.

Select the play button of the video to learn how to monitor important accounts payable indicators and access relevant apps with the Accounts Payable Overview app. Discover the powerful features, including real-time cash discount utilization and various filtering options.

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