What is contract type in SAP FI-FIO-CM - Fiori UI for Cash Management?

SAP Term: contract type

• Component: FI-FIO-CM

• Component Name: Fiori UI for Cash Management

• Description: The type of contract that a company signs with a financial institution for opening a bank account. For example, the contract type can be current account, payment service provider account, or technical account.

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• Key Concepts: 
  Contract type is a feature of the FI-FIO-CM Fiori UI for Cash Management. It is used to define the type of contract that is associated with a particular cash management transaction. This can be used to differentiate between different types of transactions, such as payments, deposits, and transfers. 
  
  How to use it: 
  Contract type can be used to categorize cash management transactions in the FI-FIO-CM Fiori UI. To do this, select the “Contract Type” field when creating a new transaction. This will allow you to select from a list of available contract types. Once selected, the transaction will be associated with that contract type. 
  
  Tips & Tricks: 
  When creating a new transaction, it is important to select the correct contract type. This will ensure that the transaction is properly categorized and can be easily identified in the future. Additionally, it is important to keep track of which contract types are associated with which transactions, as this can be useful for reporting and analysis purposes. 
  
  Related Information: 
  For more information on contract types and how they are used in the FI-FIO-CM Fiori UI for Cash Management, please refer to the official SAP documentation.