What is debt arrears in SAP FS-CMS - Collateral Management System?

SAP Term: debt arrears

• Component: FS-CMS

• Component Name: Collateral Management System

• Description: It corresponds to the due claims or receivables of the borrower. Note If the receivable has not been set due, the debt arrears will equal only the open financial obligations for the receivable.

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• Key Concepts: 
  Debt arrears is a term used in the SAP FS-CMS Collateral Management System to refer to the amount of money owed by a debtor that is past due. It is the total amount of money that has not been paid by the debtor on time. 
  
  How to use it: 
  In the SAP FS-CMS Collateral Management System, debt arrears can be tracked and monitored. This allows creditors to keep track of how much money is owed by a debtor and when it is due. The system also allows creditors to set up payment plans and other arrangements with debtors in order to ensure that payments are made on time. 
  
  Tips & Tricks: 
  It is important to keep track of debt arrears in order to ensure that payments are made on time and that creditors are not left out of pocket. It is also important to set up payment plans with debtors in order to ensure that payments are made on time and that creditors are not left out of pocket. 
  
  Related Information: 
  Debt arrears can also be tracked and monitored using other software systems such as Microsoft Excel or QuickBooks. Additionally, debt arrears can be managed through legal means such as filing a lawsuit against the debtor or using a debt collection agency.