F110 Wire transfers Best practice

[Former Member]

Hi SAP Gurus

What is the best pracice for managing Wire trasnfers through SAP. Do we need to just create a Pay Order to be sent to Bank or we should also create a Remittance advice to be sent to our vendor? Can we also send clearing details to the bank like Invoice reference of our vendor that we have cleared? Do bank not send the clearing details to the vendor in 'Note to payee' field to our vendor's bank? If yes then still there a need to give the remittance advice to vendor. Pls advice.

Thanks in advance

[Former Member · Accepted solution]

Hello,

In some banks the reference or the clearing number in the 'Note to payee' field are being displayed,

but I am affraid it is up to your house bank.

If you want to make sure your beneficiary receives all the necessary info about your payment,

you'd better send a remittance advice.

Regards,

Endre