What is expenses in SAP FS-CM - Claims Management?

SAP Term: expenses

• Component: FS-CM

• Component Name: Claims Management

• Description: Expenses are costs that are incurred by the insurance company in the course of settling a claim. Expenses differ from losses in that losses are covered by the insurance policy and paid in the form of compensation.

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• Key Concepts: 
  Expenses in SAP FS-CM Claims Management are the costs incurred by an organization for goods and services. These expenses can be related to travel, entertainment, or any other type of expenditure. Expenses are recorded in the system and can be tracked and managed.
  
  How to use it: 
  In SAP FS-CM Claims Management, expenses can be entered into the system manually or imported from external sources. Once entered, expenses can be categorized and tracked. Reports can be generated to analyze expenses and identify areas of improvement.
  
  Tips & Tricks: 
  When entering expenses into SAP FS-CM Claims Management, it is important to ensure that all relevant information is included. This includes the date, amount, description, and category of the expense. This will help ensure that all expenses are accurately tracked and reported.
  
  Related Information: 
  SAP FS-CM Claims Management also includes features for managing reimbursements and payments related to expenses. This includes features for creating payment requests, tracking payments, and generating reports on payments.