What is creditor in SAP FS-PM - Policy Management?

SAP Term: creditor

• Component: FS-PM

• Component Name: Policy Management

• Description: Contract participant that has acquired rights from the policy, such as cession or pledge.

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• Key Concepts: 
  A creditor in SAP FS-PM Policy Management is a person or organization that is owed money by a debtor. Creditors are typically banks, financial institutions, or other organizations that provide loans or other forms of credit to debtors. Creditors are responsible for collecting payments from debtors and ensuring that the debt is paid in full. 
  
  How to use it: 
  In SAP FS-PM Policy Management, creditors can be managed through the Creditor Master Data screen. This screen allows users to view and manage information about creditors, such as contact information, payment terms, and credit limits. Users can also create new creditors and edit existing ones. 
  
  Tips & Tricks: 
  When creating a new creditor in SAP FS-PM Policy Management, it is important to ensure that all of the necessary information is entered correctly. This includes contact information, payment terms, and credit limits. Additionally, it is important to ensure that the creditor’s name is spelled correctly and that all of the necessary documents are uploaded. 
  
  Related Information: 
  For more information about managing creditors in SAP FS-PM Policy Management, please refer to the official SAP documentation. Additionally, there are many online resources available that provide helpful tips and tricks for managing creditors in SAP FS-PM Policy Management.