What is shared liability in SAP FI-CA - Contract Accounts Receivable and Payable?

SAP Term: shared liability

• Component: FI-CA

• Component Name: Contract Accounts Receivable and Payable

• Description: Defines several natural or legal persons who can all act as the debtor for the total receivable. However, the receivable can only be requested once by the creditor.

Smart SAP Assistant

• Key Concepts: 
  Shared liability is a feature of the FI-CA Contract Accounts Receivable and Payable component of SAP. It allows for the sharing of liability between two or more parties in a contract. This means that each party is responsible for a portion of the liability, and if one party fails to pay, the other party is responsible for making up the difference. 
  
  How to use it: 
  In order to use shared liability, you must first create a contract in SAP. Once the contract is created, you can assign a shared liability percentage to each party involved in the contract. This percentage will determine how much each party is responsible for in terms of liability. You can also set up payment terms and conditions for each party, as well as any other relevant information. 
  
  Tips & Tricks: 
  When setting up shared liability, it is important to make sure that all parties involved are aware of their responsibility and that they understand the terms and conditions of the contract. Additionally, it is important to keep track of payments made by each party so that you can ensure that everyone is paying their share of the liability. 
  
  Related Information: 
  For more information on shared liability in SAP, please refer to the SAP Help Portal or contact your local SAP representative. Additionally, there are many online resources available that provide detailed information on how to use shared liability in SAP.