What is internal clearing in SAP FS-CD - Collections/Disbursements?

SAP Term: internal clearing

• Component: FS-CD

• Component Name: Collections/Disbursements

• Description: Specifies an invoice type within the framework of an insurance benefit.

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• Key Concepts: 
  Internal clearing is a process in the SAP Financial Services Collections and Disbursements (FS-CD) component that allows for the transfer of funds between two accounts within the same company. This process is used to settle open items between accounts, such as when one account owes another account money. The internal clearing process can be used to reduce the number of open items in the system, as well as to simplify the reconciliation process.
  
  How to use it: 
  To use internal clearing in SAP FS-CD, you must first create a clearing document. This document contains information about the accounts involved in the transaction, as well as the amount to be transferred. Once the document is created, it must be approved by an authorized user before it can be processed. Once approved, the internal clearing process will automatically transfer funds between the two accounts.
  
  Tips & Tricks: 
  When using internal clearing in SAP FS-CD, it is important to ensure that all of the information entered into the clearing document is accurate. This includes verifying that the accounts involved in the transaction are correct, as well as ensuring that the amount to be transferred is correct. Additionally, it is important to ensure that all of the necessary approvals have been obtained before processing the document.
  
  Related Information: 
  For more information on using internal clearing in SAP FS-CD, please refer to SAP's official documentation on Collections and Disbursements. Additionally, there are many online resources available that provide detailed instructions on how to use this feature in SAP FS-CD.