What is repetitive payment record in SAP FS-CM - Claims Management?

SAP Term: repetitive payment record

• Component: FS-CM

• Component Name: Claims Management

• Description: Claim item grouping category comprising the following data record: Start date of repetitive payment End date of repetitive payment Payment frequency such as weekly, monthly, quarterly Type of repetitive payment such as medical device, combined benefit This data record is a template for all repetitive payments that are generated from this record these repetitive payments are referred to as "generated" repetitive payments.

Smart SAP Assistant

• Key Concepts: 
  A Repetitive Payment Record (RPR) is a feature of SAP FS-CM Claims Management that allows users to set up a payment schedule for recurring payments. This feature allows users to define the payment amount, frequency, and duration of the payments. The RPR also allows users to specify the payment method, such as bank transfer or check.
  
  How to use it: 
  To set up an RPR, users must first create a payment plan in the system. This plan will define the payment amount, frequency, and duration of the payments. Once the plan is created, users can then create an RPR for each payment. The RPR will contain all of the necessary information for the payment, such as the payment method and recipient. Once the RPR is created, it can be used to make payments on a regular basis.
  
  Tips & Tricks: 
  When creating an RPR, it is important to ensure that all of the necessary information is included. This includes the payment amount, frequency, duration, and payment method. Additionally, it is important to ensure that all of the information is accurate and up-to-date. This will help ensure that payments are made on time and without any errors.
  
  Related Information: 
  The Repetitive Payment Record feature is part of SAP FS-CM Claims Management. It is used to automate recurring payments and streamline the payment process. Additionally, this feature can be used in conjunction with other features in SAP FS-CM Claims Management such as invoicing and reporting.