Dear Friends,
I have some queries regarding F111 payment:-
1) while investing money in FD, F111 generates the accounting entry as follows
Dr. Treasury Clearing Account
Cr. House Bank outgoing GL account
Can you tell me how the actual payment happens to the bank. Do we have to maintain the recipient bank data in BP master? If yes, what all we need to maintain?
I have made configurations for F111 which helps in running the program. But after that how the payment happens, I am not familiar about this.
How does the DME file gets generated? Do we have to make any configurations for it?
2) What if the house bank and the BP are one and the same? In this case, direct debit to account happens for opening FD. Is there any need to run F111 for this case? How to manage such internal payments?
3) What is the process for incoming payments during maturity? Do we need to run F111 for it? or any other method can be used?
Regards,
Rohan