What is offsetting document in SAP FS-PM - Policy Management?

SAP Term: offsetting document

• Component: FS-PM

• Component Name: Policy Management

• Description: A document used to reimburse a receivable by a credit note to the same amount when either back-processing is required for example, in the case of a reversal, from the start date or when a new receivable with a different amount is created to replace the previous receivable due to a change for example, when a premium is changed The offsetting document is a document in its own right that is forwarded to the collections system.

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• Key Concepts: 
  An offsetting document is a document used in SAP FS-PM Policy Management to offset the amount of a payment against an invoice. It is used to reconcile the amount of a payment with the amount of an invoice, and can be used to adjust the amount of a payment or invoice. 
  
  How to use it: 
  To create an offsetting document, you must first enter the details of the payment and invoice into SAP FS-PM Policy Management. Once this is done, you can create an offsetting document by selecting the “Create Offsetting Document” option from the menu. This will open a window where you can enter the details of the offsetting document, such as the amount to be offset and any additional information. Once you have entered all of the necessary information, you can save the offsetting document. 
  
  Tips & Tricks: 
  When creating an offsetting document, it is important to ensure that all of the details are correct. This includes making sure that the amount to be offset is correct and that all other information is accurate. Additionally, it is important to ensure that all documents related to the payment and invoice are included in the offsetting document. 
  
  Related Information: 
  For more information on SAP FS-PM Policy Management and how to use it, please refer to SAP’s official documentation. Additionally, there are many online resources available that provide tutorials and tips on how to use SAP FS-PM Policy Management.