What is contract dunning in SAP FS-CD - Collections/Disbursements?

SAP Term: contract dunning

• Component: FS-CD

• Component Name: Collections/Disbursements

• Description: Dunning for the oldest item according to the due date for an insurance object. This means that only one dunning procedure is realized for each insurance object.

Smart SAP Assistant

• Key Concepts: 
  Contract dunning is a process in SAP Financial Services Collections and Disbursements (FS-CD) that allows customers to be reminded of their payment obligations. It is used to send out automated reminders to customers who have not paid their invoices on time. The dunning process can be configured to send out different types of reminders, such as emails, letters, or phone calls.
  
  How to use it: 
  To use contract dunning in SAP FS-CD, you must first configure the dunning process. This includes setting up the dunning levels, which determine how many reminders will be sent out and when they will be sent. You can also configure the content of the reminders, such as the language and format of the message. Once the dunning process is configured, it can be triggered manually or automatically when an invoice is overdue.
  
  Tips & Tricks: 
  When configuring the contract dunning process, it is important to consider the customer’s preferences. For example, some customers may prefer to receive emails while others may prefer letters or phone calls. It is also important to ensure that the content of the reminders is clear and concise so that customers understand their payment obligations.
  
  Related Information: 
  For more information about contract dunning in SAP FS-CD, please refer to the official documentation on SAP Help Portal.