What is collection target date in SAP FS-PM - Policy Management?

SAP Term: collection target date

• Component: FS-PM

• Component Name: Policy Management

• Description: Date up to which a temporary collection run is executed. The temporary collection run temporarily creates all collection documents with an effective date that is earlier than the collection target date.

Smart SAP Assistant

• Key Concepts: 
  Collection Target Date is a feature in SAP FS-PM Policy Management that allows users to set a target date for the collection of payments. This feature helps users to plan and manage their payment collections more efficiently. 
  
  How to use it: 
  To use the Collection Target Date feature, users must first create a payment plan in SAP FS-PM Policy Management. Once the payment plan is created, users can set a target date for the collection of payments. This target date can be set for each payment in the plan or for the entire plan as a whole. 
  
  Tips & Tricks: 
  When setting a Collection Target Date, it is important to consider the payment terms of the customer. This will help ensure that payments are collected on time and that customers are not charged late fees or penalties. 
  
  Related Information: 
  The Collection Target Date feature is part of SAP FS-PM Policy Management, which is a comprehensive policy management solution for financial services organizations. It provides users with tools to manage their policies, payments, and collections more efficiently.