What is 'delinquency status' in SAP FS-LRM - Liquidity and Risk Management?

delinquency status - Overview

• Component: FS-LRM

• Component Name: Liquidity and Risk Management

• Description: The state of non-performance with respect to payment by the counterparty of a contract.

delinquency status - Details

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  Key Concepts: 
  Delinquency status is a feature of SAP FS-LRM Liquidity and Risk Management that allows users to monitor the payment status of their customers. It provides an overview of the customer’s payment history and allows users to identify any potential risks associated with the customer’s payment behavior. 
  
  How to use it: 
  To use the delinquency status feature, users must first set up a delinquency status profile in the system. This profile will define the criteria for determining when a customer is considered delinquent. Once the profile is set up, users can then assign a delinquency status to each customer in the system. The system will then track the customer’s payment history and update the delinquency status accordingly. 
  
  Tips & Tricks: 
  It is important to regularly review and update the delinquency status profile to ensure that it accurately reflects the customer’s payment behavior. Additionally, users should be sure to monitor their customers’ payment history on a regular basis to ensure that any potential risks are identified and addressed in a timely manner. 
  
  Related Information: 
  For more information on SAP FS-LRM Liquidity and Risk Management, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed tutorials and best practices for using this feature.