What is contract change in SAP FI-RA - Revenue Accounting?

SAP Term: contract change

• Component: FI-RA

• Component Name: Revenue Accounting

• Description: A contract change is a change to the contractual price and condition. There are three types of contract change: a change of estimates, a contract modification and an attribute change from the inception date without price allocation

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• Key Concepts: 
  Contract change is a feature in SAP FI-RA Revenue Accounting that allows users to modify existing contracts. This feature enables users to make changes to the terms of an existing contract, such as changing the duration, amount, or payment terms. It also allows users to add new items or services to an existing contract. 
  
  How to use it: 
  To use the contract change feature in SAP FI-RA Revenue Accounting, users must first access the contract change screen. This can be done by navigating to the “Contracts” tab in the SAP FI-RA Revenue Accounting module. Once on the contract change screen, users can select an existing contract and make changes to it. They can also add new items or services to the contract. 
  
  Tips & Tricks: 
  When making changes to an existing contract, it is important to ensure that all changes are accurately reflected in the system. This includes making sure that all new items or services are added correctly and that any changes to payment terms are accurately reflected in the system. 
  
  Related Information: 
  For more information on using the contract change feature in SAP FI-RA Revenue Accounting, please refer to the official SAP documentation. Additionally, there are many online resources available that provide step-by-step instructions on how to use this feature.