What is 'expense settlement' in SAP AP-ERM - FIN-Expense and Reimbursement Management?

expense settlement - Overview

• Component: AP-ERM

• Component Name: FIN-Expense and Reimbursement Management

• Description: Journal entry type for travel and entertainment expenses.

expense settlement - Details

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  Key Concepts: 
  Expense settlement is a process in SAP that allows employees to submit and manage their expenses and reimbursement requests. It is part of the Financial Accounting (FI) module of SAP, and is used to track and manage employee expenses. The process involves submitting expense reports, verifying the accuracy of the information, and then settling the expenses with the appropriate accounts. 
  
  How to use it: 
  In order to use expense settlement in SAP, an employee must first submit an expense report. This report should include all relevant information such as date, amount, type of expense, and any other relevant details. Once the report is submitted, it will be reviewed by a supervisor or manager for accuracy. If approved, the expense will be settled with the appropriate accounts. 
  
  Tips & Tricks: 
  When submitting an expense report, it is important to provide as much detail as possible. This will help ensure that the report is accurate and can be settled quickly. Additionally, it is important to keep track of all receipts and other documents related to the expense in order to provide proof of purchase if needed. 
  
  Related Information: 
  The SAP Expense Settlement component is part of the Financial Accounting (FI) module of SAP. It is used to track and manage employee expenses and reimbursement requests. Additionally, it can be used to generate reports on expenses