What is contract journal in SAP FS-PM - Policy Management?

SAP Term: contract journal

• Component: FS-PM

• Component Name: Policy Management

• Description: Is kept for each status of the contract after generating the contract business object. The purpose of the contract journal is to accurately record the progression of contract processing as well as for loading a historical contract status using a specified effective date.

Smart SAP Assistant

• Key Concepts: 
  Contract journal is a component of the SAP FS-PM Policy Management module. It is used to store and manage contracts and related documents. It allows users to create, edit, and delete contracts, as well as view and print them. It also provides a search function to quickly locate contracts.
  
  How to use it: 
  To use the contract journal, users must first create a contract. This can be done by entering the necessary information into the contract form. Once the contract is created, it can be edited or deleted as needed. The contract can also be printed or viewed in its entirety. Additionally, users can search for contracts using keywords or other criteria.
  
  Tips & Tricks: 
  When creating a contract, it is important to enter all relevant information accurately and completely. This will ensure that the contract is valid and can be used for its intended purpose. Additionally, it is important to keep track of any changes made to the contract so that they can be easily accessed in the future.
  
  Related Information: 
  The SAP FS-PM Policy Management module also includes other components such as policy management, claims management, and payment management. These components are used to manage different aspects of insurance policies and claims processing. Additionally, there are various reports available in the module that provide detailed information about contracts and policies.