EFT

[Former Member]

Hi All,

I have to set up EFT (payments) for my Client. Can somebody tell me steps to configure EFT in SAP.

Will sure assign good points.

Thanks a lot in advance

[former_member200240 · Accepted solution]

Hi Cathy

EFT is Electronic Fund Transfer.You need to configure the steps in FBZP like Setting up the paying Co Codes, Have payment methods available in the COuntry in which your Co Code exists, then assign to Company Codes which are going to make payments. While having an EFT payment method, ensure that "Bank transfer" is ticked. Also specify document types for Payment and Clearing documents. Also specify the Payment medium program and create the necessary variant. This is required for data transfer to bank and for remittance advices to vendors. Ensure that for EFT payments, vendor master has Bank details like Bank Key, Account number, etc.

Hope this is useful. Kindly go thro the FBZP thoroughly.

S Jayaram

[Former Member · Accepted solution]

Thanks very Much. What are other things needs to be configured for EFT.

[Former Member · Accepted solution]

Cathy:

You will also need to use a payment medium for the new payment method.

Payment methods like wire transfer (similar to EFT) use RFFOUS_T.

Vj