What are the standard stages of payment run in SAP?

Following are the standard stages of payment run in SAP:

• Entering of parameters- Includes entering vital information like company codes, vendor accounts, payment methods, etc.
• Proposal scheduling- A proposal is sent for the invoices to be paid.
• Payment booking- Booking of the actual payments into the ledger.
• Printing of payment forms- The last stage of the payment run is where you schedule the printing of the payment forms.