What is 'incurred but not reported' in SAP FS-BA-PM-SFA - Smart Accounting for Financial Instruments?

incurred but not reported - Overview

• Component: FS-BA-PM-SFA

• Component Name: Smart Accounting for Financial Instruments

• Description: Incurred but not reported: BECF lifecycle stage in which the inception date has been reached but incurred insurance claims have not yet been reported.

incurred but not reported - Details

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  Key Concepts: 
  Incurred but not reported (IBNR) is a term used in the SAP FS-BA-PM-SFA Smart Accounting for Financial Instruments component. It refers to a situation where a financial instrument has been incurred, but the associated transaction has not yet been reported. This can occur when a transaction is delayed or when the reporting process is incomplete. 
  
  How to use it: 
  In SAP FS-BA-PM-SFA Smart Accounting for Financial Instruments, IBNR can be used to identify and track transactions that have been incurred but not yet reported. This allows users to ensure that all transactions are properly accounted for and reported in a timely manner. 
  
  Tips & Tricks: 
  When using IBNR in SAP FS-BA-PM-SFA Smart Accounting for Financial Instruments, it is important to ensure that all transactions are properly tracked and accounted for. This can be done by regularly reviewing the IBNR report and ensuring that all transactions are properly reported. 
  
  Related Information: 
  IBNR is also used in other SAP components, such as FS-CD-CA Cash Management and FS-CD-TR Treasury Management. It is important to understand how IBNR works in each component in order to ensure that all transactions are properly accounted for and reported.