What is contract in SAP FIN-FSCM-BC - Biller Consolidator?

SAP Term: contract

• Component: FIN-FSCM-BC

• Component Name: Biller Consolidator

• Description: Has to be signed between the provider of SAP and all participants. There are two types of contract: Direct Between the provider and the participant acting as biller Indirect Between the provider and an organization such as a financial institution that has already signed a contract with the participant acting as biller. In this case the financial institution is the agency for the contract between the provider and biller.

Smart SAP Assistant

• Key Concepts: 
  A contract in SAP is an agreement between two or more parties that defines the terms and conditions of a business relationship. In the Biller Consolidator component of SAP Financial Supply Chain Management (FSCM), contracts are used to define the terms and conditions of a business relationship between a biller and a customer. This includes the payment terms, billing frequency, and any discounts or incentives that may be offered. 
  
  How to use it: 
  In SAP FSCM, contracts are created in the Biller Consolidator component. The contract is created by entering the details of the agreement between the biller and customer, such as payment terms, billing frequency, and any discounts or incentives that may be offered. Once the contract is created, it can be used to generate invoices for customers based on the terms of the agreement. 
  
  Tips & Tricks: 
  When creating a contract in SAP FSCM, it is important to ensure that all of the details are accurate and up-to-date. This will help to ensure that invoices are generated correctly and that customers are billed according to the terms of the agreement. 
  
  Related Information: 
  For more information on contracts in SAP FSCM, please refer to the official SAP documentation at https://help.sap.com/viewer/product/FIN_FSCM_BC/latest/en-US.