What is offsetting item in SAP FS-CM - Claims Management?

SAP Term: offsetting item

• Component: FS-CM

• Component Name: Claims Management

• Description: A value that is to be offset in the benefit calculation in life insurance. &EXAMPLE& Premium arrears Loan interest

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• Key Concepts: 
  Offsetting item is a feature in SAP FS-CM Claims Management that allows for the automatic offsetting of claims and payments. This means that when a claim is received, the system will automatically search for any payments that have been made to the same customer and offset them against the claim. This helps to reduce manual effort and ensure accuracy in the claims process. 
  
  How to use it: 
  Offsetting items can be enabled in the system by going to the “Settings” tab in the Claims Management module. Once enabled, the system will automatically search for any payments made to the same customer and offset them against the claim. The user can also manually enter an offsetting item if needed. 
  
  Tips & Tricks: 
  When setting up offsetting items, it is important to ensure that all relevant information is entered correctly. This includes the customer name, payment amount, and payment date. It is also important to ensure that all payments are entered into the system before attempting to offset them against a claim. 
  
  Related Information: 
  For more information on how to use offsetting items in SAP FS-CM Claims Management, please refer to the official SAP documentation. Additionally, there are many online tutorials available that provide step-by-step instructions on how to set up and use this feature.