What is 'receivables collection' in SAP FIN-FSCM-COL - Collections Management?

receivables collection - Overview

• Component: FIN-FSCM-COL

• Component Name: Collections Management

• Description: Measure for collecting outstanding receivables

receivables collection - Details

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  Key Concepts: 
  Receivables collection is a component of SAP Collections Management, which is part of the Financial Supply Chain Management (FSCM) module. It is used to manage customer receivables and the collection process. It helps to ensure that customers pay their invoices on time and in full.
  
  How to use it: 
  Receivables collection can be used to monitor customer accounts, track payments, and send reminders to customers who are overdue on their payments. It also allows users to set up payment plans and negotiate payment terms with customers. Additionally, it can be used to generate reports on customer accounts and payment trends.
  
  Tips & Tricks: 
  It is important to keep track of customer accounts and payment trends in order to ensure that customers are paying their invoices on time. Additionally, it is important to stay in contact with customers who are overdue on their payments in order to negotiate payment terms and set up payment plans.
  
  Related Information: 
  SAP Collections Management is part of the Financial Supply Chain Management (FSCM) module, which also includes Credit Management, Dispute Management, and Biller Direct. Additionally, SAP Receivables Management is a related component that can be used to manage customer receivables and the collection process.