What is present for contract processing in SAP FS-AM-CM - Contract Management?

SAP Term: present for contract processing

• Component: FS-AM-CM

• Component Name: Contract Management

• Description: The default value for the valid-on date if no date is explicitly specified. This means the present is the point in time for usual contract processing. The system determines this point in time depending on the settings made in the Account Management FS-AM Customizing settings in IMG activity 'Define Present for Contract Processing'.

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• Key Concepts: 
  Present for Contract Processing is a feature of SAP FS-AM-CM Contract Management that allows users to create and manage contracts. It enables users to create contracts, assign them to different parties, and track the progress of the contract. It also allows users to set up payment terms, track payments, and manage the contract lifecycle. 
  
  How to use it: 
  To use Present for Contract Processing, users must first create a contract in SAP FS-AM-CM Contract Management. Once the contract is created, users can assign it to different parties and set up payment terms. They can then track the progress of the contract and manage its lifecycle. 
  
  Tips & Tricks: 
  When creating a contract in SAP FS-AM-CM Contract Management, it is important to ensure that all relevant information is included in the contract. This includes payment terms, deadlines, and any other relevant information. Additionally, it is important to keep track of payments and ensure that they are made on time. 
  
  Related Information: 
  For more information on SAP FS-AM-CM Contract Management, please visit the SAP website at https://www.sap.com/products/contract-management.html. Additionally, there are many online resources available that provide tutorials and tips on how to use SAP FS-AM-CM Contract Management.