What is statement of account in SAP FS-RI - Reinsurance?

SAP Term: statement of account

• Component: FS-RI

• Component Name: Reinsurance

• Description: A document that contains information about, among other things, premium income and incurred losses. The cedent provides this document either directly or indirectly for the reinsurer.

Smart SAP Assistant

• Key Concepts: 
  Statement of Account (SOA) is a document in SAP FS-RI Reinsurance that provides a summary of the financial transactions between two parties. It is used to track the financial status of a reinsurance contract and to ensure that all payments are made in a timely manner. The SOA includes information such as the total amount due, the amount paid, and any outstanding balances. 
  
  How to use it: 
  The SOA can be accessed in SAP FS-RI Reinsurance by navigating to the “Statement of Account” tab. From there, users can view the details of the SOA, including the total amount due, the amount paid, and any outstanding balances. Users can also view any transactions that have been made since the last SOA was generated. 
  
  Tips & Tricks: 
  It is important to regularly review the SOA to ensure that all payments are up-to-date and accurate. Additionally, users should be aware of any changes in the reinsurance contract that may affect the SOA. 
  
  Related Information: 
  For more information on SAP FS-RI Reinsurance, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed tutorials and best practices for using SAP FS-RI Reinsurance.