What is 'billing due date' in SAP FS-CML - Loans Management?

billing due date - Overview

• Component: FS-CML

• Component Name: Loans Management

• Description: Date on which a bill is due. The billing due date can differ from the actual bill date. The borrower has until the billing due date to make outstanding payments to the lender.

billing due date - Details

• 
  Key Concepts: 
  The billing due date is a date set by the lender in the FS-CML Loans Management component of SAP. It is the date on which the borrower must pay the loan amount in full. The billing due date is typically set at the time of loan origination and can be adjusted as needed. 
  
  How to use it: 
  The billing due date can be set in the FS-CML Loans Management component of SAP. To do this, navigate to the “Loan Details” tab and select “Billing Due Date” from the drop-down menu. Enter the desired date and click “Save” to save your changes. 
  
  Tips & Tricks: 
  It is important to keep track of the billing due date for each loan in order to ensure timely payments. Setting reminders or alerts can help you stay on top of payments and avoid late fees or other penalties. 
  
  Related Information: 
  For more information about setting up loans in SAP, please refer to the SAP Help Portal or contact your local SAP support team.