What is product group in SAP FS-CD - Collections/Disbursements?

SAP Term: product group

• Component: FS-CD

• Component Name: Collections/Disbursements

• Description: Grouped summary of multiple insurance types.

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• Key Concepts: 
  Product group is a feature of the SAP FS-CD Collections/Disbursements component. It is used to group products together for easier management and tracking. Product groups can be used to categorize products by type, such as clothing, electronics, or furniture. They can also be used to group products by supplier, customer, or other criteria. 
  
  How to use it: 
  Product groups can be created in the SAP FS-CD Collections/Disbursements component. To create a product group, select the “Create Product Group” option from the menu. Enter the name of the product group and select the criteria for grouping products. Once the product group is created, products can be added to it. 
  
  Tips & Tricks: 
  When creating product groups, it is important to consider how they will be used. For example, if a product group is being created for a specific customer, it should include only products that are relevant to that customer. Additionally, product groups should be named in a way that makes them easy to identify and understand. 
  
  Related Information: 
  The SAP FS-CD Collections/Disbursements component also includes features such as payment processing and invoicing. Additionally, product groups can be used in conjunction with other features such as pricing rules and discounts.