What is compensation in SAP FS-MCM-CSL - Combined Settlement?

SAP Term: compensation

• Component: FS-MCM-CSL

• Component Name: Combined Settlement

• Description: A component that comprises all the functions for charge and interest calculation, and that is part of combined settlement. Compensation takes into account the balances of all accounts of a master contract that are relevant to turnover. It calculates the interest and charges incurred according to the selected condition type.

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• Key Concepts: 
  FS-MCM-CSL Combined Settlement is a SAP compensation module that allows companies to manage their compensation processes. It enables companies to define and manage compensation plans, calculate and distribute payments, and track the progress of their compensation plans. It also provides a comprehensive view of the entire compensation process, from planning to execution. 
  
  How to use it: 
  The FS-MCM-CSL Combined Settlement module can be used to create and manage compensation plans. It allows users to define the parameters of the plan, such as the type of payment, the amount of payment, and the frequency of payment. It also allows users to set up rules for calculating payments, such as eligibility criteria and payment schedules. Once the plan is created, users can use the module to calculate payments and distribute them to employees. 
  
  Tips & Tricks: 
  When creating a compensation plan, it is important to consider all aspects of the plan, including eligibility criteria, payment schedules, and other parameters. Additionally, it is important to ensure that all payments are accurate and timely. The FS-MCM-CSL Combined Settlement module can help with this by providing an easy way to track payments and ensure accuracy. 
  
  Related Information: 
  The FS-MCM-CSL Combined Settlement module is part of SAP’s Financial Services suite of products. Other modules in this suite include Accounts Receivable, Accounts Payable, Cash Management, and Treasury Management. Additionally, SAP offers a range of services related to compensation management, such as consulting services and training courses.