What is debit procedure in SAP FS-CD - Collections/Disbursements?

SAP Term: debit procedure

• Component: FS-CD

• Component Name: Collections/Disbursements

• Description: Procedure when transferring coinsurance shares regardless of clearing for the coinsurance-relevant document, whereby the coinsurance shares are transferred to the coinsurers by the lead insurer, or are collected by coinsurers.

Smart SAP Assistant

• Key Concepts: 
  Debit procedure is a feature of the SAP Collections and Disbursements (FS-CD) component that allows customers to make payments directly from their bank accounts. The debit procedure is initiated by the customer, who provides their bank account information to the system. The system then sends a request to the customer's bank to debit the amount due from the customer's account. Once the payment is received, it is posted to the customer's account in SAP. 
  
  How to use it: 
  To use the debit procedure, customers must first provide their bank account information to the system. This can be done through a secure online form or by providing a paper form with their bank details. Once the information is entered into SAP, customers can initiate a debit request by selecting the “Debit” option in the FS-CD component. The system will then send a request to the customer's bank to debit the amount due from their account. 
  
  Tips & Tricks: 
  When using the debit procedure, it is important to ensure that all of the customer's bank details are correct and up-to-date. This will help ensure that payments are processed quickly and accurately. Additionally, customers should be aware that some banks may charge fees for using this service. 
  
  Related Information: 
  For more information about using the debit procedure in SAP FS-CD, please refer to SAP Help documentation or contact your local SAP support team.