What is prepaid balance in SAP CRM-FM - Funds Management?

SAP Term: prepaid balance

• Component: CRM-FM

• Component Name: Funds Management

• Description: Money paid to accounts for future trade promotions. A prepaid balance is similar to a settlement except it is paid in advance.

Smart SAP Assistant

• Key Concepts: 
  Prepaid balance is a feature of SAP Funds Management (FM) that allows customers to pay for goods and services in advance. This feature allows customers to make payments before they receive the goods or services, and the funds are held in a prepaid balance account until the goods or services are delivered. The prepaid balance can then be used to pay for the goods or services. 
  
  How to use it: 
  To use the prepaid balance feature, customers must first create a prepaid balance account in SAP Funds Management. Once the account is created, customers can make payments into the account using various payment methods such as credit cards, bank transfers, or cash. The funds will then be held in the prepaid balance account until the goods or services are delivered. Once the goods or services are delivered, customers can then use the funds in their prepaid balance account to pay for them. 
  
  Tips & Tricks: 
  It is important to keep track of your prepaid balance account and ensure that you have enough funds in it to cover any purchases you make. Additionally, it is important to remember that any unused funds in your prepaid balance account will expire after a certain period of time, so it is important to use them before they expire. 
  
  Related Information: 
  For more information about SAP Funds Management and its features, please visit the SAP website at https://www.sap.com/products/funds-management.html. Additionally, you can find more information about prepaid balances and other features of SAP Funds Management on the SAP Community Network at https://answers.sap.com/questions/tagged/funds-management.