What is outgoing royalties accrual in SAP CRM-IM-IPM - Intellectual Property Management?

SAP Term: outgoing royalties accrual

• Component: CRM-IM-IPM

• Component Name: Intellectual Property Management

• Description: The system determines the anticipated costs in a simulation run, so that the costs resulting from a license acquisition can be posted before OR settlement takes place. Anticipated costs are posted against an accrual account in FI as OR accruals.

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• Key Concepts: 
  Outgoing royalties accrual is a process in SAP CRM-IM-IPM Intellectual Property Management that allows companies to track and manage the payment of royalties to third parties. This process involves calculating the amount of royalties due to a third party, recording the payment, and tracking the payment status. 
  
  How to use it: 
  The outgoing royalties accrual process in SAP CRM-IM-IPM Intellectual Property Management is initiated by creating an accrual document. This document contains information about the royalty payment, such as the amount due, the date of payment, and the recipient. Once the document is created, it can be used to track and manage the payment of royalties. 
  
  Tips & Tricks: 
  When creating an outgoing royalties accrual document in SAP CRM-IM-IPM Intellectual Property Management, it is important to ensure that all relevant information is included. This includes the amount due, the date of payment, and the recipient. Additionally, it is important to ensure that all payments are tracked and recorded accurately. 
  
  Related Information: 
  For more information on outgoing royalties accrual in SAP CRM-IM-IPM Intellectual Property Management, please refer to SAP’s official documentation on the topic. Additionally, there are many online resources available that provide detailed instructions on how to use this feature in SAP CRM-IM-IPM Intellectual Property Management.