What is day rate in SAP FS-CM - Claims Management?

SAP Term: day rate

• Component: FS-CM

• Component Name: Claims Management

• Description: Amount of money to which the insured person is entitled on a daily basis.

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• Key Concepts: 
  Day rate is a term used in the FS-CM Claims Management component of SAP. It is a rate that is used to calculate the amount of money that an individual or organization will receive for a certain period of time. This rate is typically based on the number of days worked, and can be adjusted depending on the type of work being done. 
  
  How to use it: 
  In order to use day rate in FS-CM Claims Management, you must first enter the number of days worked into the system. Once this is done, you can then enter the rate that you would like to be paid for each day worked. This rate can be adjusted depending on the type of work being done, and can be changed at any time. 
  
  Tips & Tricks: 
  When setting up day rate in FS-CM Claims Management, it is important to make sure that you are entering accurate information. This will ensure that you are receiving the correct amount of money for each day worked. Additionally, it is important to keep track of any changes that are made to the day rate, as this can affect how much money you receive. 
  
  Related Information: 
  Day rate is just one of many terms used in FS-CM Claims Management. Other terms include hourly rate, overtime rate, and bonus rate. Additionally, there are other components within SAP that use similar terms, such as HR-PA Payroll Accounting and FI-CA Contract Accounts Receivable and Payable.