What is repayable advance in SAP CRM-IM-IPM - Intellectual Property Management?

SAP Term: repayable advance

• Component: CRM-IM-IPM

• Component Name: Intellectual Property Management

• Description: Advance, from which a share is to be repaid if the total royalties does not match the advance amount. &EXAMPLE& Advance: 5000 Euros Total royalties: 3000 Euros Amount to be repaid: 2000 Euros The amount to be repaid is determined in a final invoice.

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• Key Concepts: 
  Repayable advances are a type of financial transaction in SAP's CRM-IM-IPM Intellectual Property Management component. They are used to provide a loan to a customer or vendor, with the expectation that the loan will be repaid in full at a later date. The repayment terms and conditions are agreed upon by both parties prior to the loan being issued.
  
  How to use it: 
  In order to use repayable advances, the customer or vendor must first be set up in SAP's CRM-IM-IPM Intellectual Property Management component. Once this is done, the user can create a new repayable advance transaction and enter the details of the loan, including the amount, repayment terms, and any other relevant information. Once the transaction is saved, it will be visible in the system and can be tracked and monitored as needed.
  
  Tips & Tricks: 
  When creating a repayable advance transaction, it is important to ensure that all of the details are accurate and up-to-date. This will help to ensure that the loan is repaid on time and in full. Additionally, it is important to keep track of all repayable advances in order to ensure that they are being managed properly.
  
  Related Information: 
  For more information on SAP's CRM-IM-IPM Intellectual Property Management component and how to use repayable advances, please refer to SAP's official documentation or contact your local SAP representative.