Can you please explain me what is the difference between ACH Payments & Fedwire?
Thanks in Advance,
The only difference between one payment method to another is the payment medium attached to the payment method.
From a business perspective, a fed wire is better suited to transaction code RVND and an ach/eft transfer is better suited for regular fi transactions. In general, ACH -- goes with customer/vendor invoices -- paid via F110 -- uses rffous_t print medium. In general, wires -- go with treasury deals/non-core business transactions (i.e. investments, borrowings, FX deals, company acquisitions, lawsuits, whatever) -- are created either via the CFM module or RVND, paid via F111, and would most typically use rffoedi1 print medium.