What is activity status in SAP FS-AM-CM-AC - Account?

SAP Term: activity status

• Component: FS-AM-CM-AC

• Component Name: Account

• Description: The status of an account in relation to the activities carried out by the account holder. A newly created account is given the initial activity status. &EXAMPLE& Active, inactive, dormant, abandoned, escheat

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• Key Concepts: 
  Activity status is a feature of the FS-AM-CM-AC Account Assignment component in SAP. It is used to track the progress of an activity and to determine when it has been completed. Activity status can be set to one of three values: open, in progress, or completed. 
  
  How to use it: 
  Activity status is used to track the progress of an activity. When an activity is created, it is given an initial status of “open”. As the activity progresses, its status can be changed to “in progress” or “completed”. This allows users to easily track the progress of activities and determine when they have been completed. 
  
  Tips & Tricks: 
  It is important to keep track of activity status in order to ensure that activities are completed on time and that resources are not wasted on activities that are no longer relevant. Additionally, setting up reminders for activities with a status of “in progress” can help ensure that they are completed in a timely manner. 
  
  Related Information: 
  Activity status is closely related to other features such as task lists and workflow. Task lists allow users to create lists of activities that need to be completed and assign them to specific users or groups. Workflow allows users to define the steps that need to be taken in order for an activity to be completed. Both of these features can be used in conjunction with activity status in order to ensure that activities are completed on time and that resources are not wasted on activities that are no longer relevant.