What is 'payout date' in SAP FS-PM - Policy Management?

payout date - Overview

• Component: FS-PM

• Component Name: Policy Management

• Description: Date up to which the model calculation simulates the course of an insurance contract.

payout date - Details

• 
  Key Concepts: 
  Payout date is a term used in SAP FS-PM Policy Management. It is the date on which a payment is due to be made to a policyholder. The payout date is determined by the policy terms and conditions, and can be set up in the system when the policy is created. 
  
  How to use it: 
  In SAP FS-PM Policy Management, the payout date can be set up when creating a policy. This can be done by entering the desired date in the “Payout Date” field. The system will then use this date to calculate when payments are due to be made to the policyholder. 
  
  Tips & Tricks: 
  It is important to ensure that the payout date is accurate, as this will affect when payments are made to the policyholder. If the payout date is incorrect, it could result in payments being made late or not at all. 
  
  Related Information: 
  For more information on setting up payout dates in SAP FS-PM Policy Management, please refer to the official SAP documentation.