Payment method configuration

Question

Need help in configuring the Wire Payment method without using EDI. I did the config using RFFOUS_T as the payment medium program. But it is not working out. Please provide complete, detailed config steps for setting up this payment method.
What should be filled in the program variant RFFOUS_T when setting up payment parameters?
Please also let me know what are the various ways of setting up wires payments (for eg, wires thru EDI, wires without EDI )
Thankyou very much

Answer 1

Hi Lakshmi ,
         I implimented wire transfers in one of clients.
I am giving detailed procedure with journal entries.
Just see the below :---
Automatic Payment Program (APP) for Funds Transfer.
1)     Purchase Invoice from the Vendor. (F-43) : --
                        Inventory Raw Material a/c DR 1,000
                                          TO    Vendor a/c          1,000                  
2)     APP (F110) :--
Maintain Parameters.
Schedule Proposal.
Edit Proposal.
Schedule Payments. : In this step, Paying document generated.
                    Vendor a/c DR 1,000
                                    TO Check Issue a/c (clearing a/c) 1,000
     Note for 2nd point:   We are making Payment to Vendor by Bank Transfer.
That means Company Code House Bank is depositing the
Amount in Vendoru2019s House Bank through online Transfer.
3)     We need to Pass the Vendor bank details to the our (Company code)
House Bank for online Transfer.
             Vendor bank details contain the following details:--
                         Vendor Name.
                         Vendor Bank Name.
                         Vendor Branch Code.
                         Vendor Account Number.
Note for 3rd Point:  The End user need to run the u201CZ Programu201D in SE38  for extracting the Vendor Bank details to Excel or Word Document on Desk top of Computer.
For this, we need to prepare the Functional Specifications defining the logic
That contains the Table names.  Latter I will send to you Logic.
4)     Now the End user have Extracted  Excel or Word Document on his Desk top.
The End user should have an access to login to Companyu2019s House Bank Portal (website) in order to upload the Excel or Word Document.
5)     Based on the Excel Sheet that the End user upload ,
Company House Bank will transfer the amount to Vendors bank.
And this information will be updated in Company House Bank Website.
6)     The End user login to Company House Bank website and down load the
Excel sheet containing the Vendor Payment details.
7)     The End user needs to run the Z Program  and upload this Excel Sheet.
Automatically the following entry needs to be generated.
         Check issue a/c DR   1,000
                 To ICICI Bank a.c     1,000
              Note :-- The Check issue a/c will be knocked off.
Regards.
Kiran Konujula