What is new loan boarding in SAP FS-AM - Account Management?

SAP Term: new loan boarding

• Component: FS-AM

• Component Name: Account Management

• Description: A Process Object Type to create operational objects in SAP back-end systems to conclude the sales deal for a loan. New Loan Boarding is triggered when the status of a Banking Customer Quote is set to 'Sent for Onboarding' in the CRM system.

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• Key Concepts: 
  New loan boarding is a process in the SAP FS-AM Account Management component that allows users to create and manage loan accounts. It enables users to define the loan terms, such as interest rate, repayment schedule, and other details. The process also allows users to track the loan’s progress and manage any changes that may occur during the life of the loan. 
  
  How to use it: 
  To use new loan boarding, users must first create a loan account in SAP FS-AM Account Management. This can be done by entering the necessary information, such as the borrower’s name, address, and other details. Once the account is created, users can then define the loan terms, such as interest rate, repayment schedule, and other details. Finally, users can track the progress of the loan and make any necessary changes during its life. 
  
  Tips & Tricks: 
  When creating a new loan account in SAP FS-AM Account Management, it is important to ensure that all of the necessary information is entered accurately. This will help ensure that the loan terms are correctly defined and that any changes made during its life are tracked accurately. Additionally, it is important to regularly review the loan’s progress to ensure that it is on track and that any changes are being made in a timely manner. 
  
  Related Information: 
  For more information on new loan boarding in SAP FS-AM Account Management, please refer to the official SAP documentation or contact your local SAP support team. Additionally, there are many online resources available that provide helpful tips and tricks for using this process.