What is contract currency in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: contract currency

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management The currency in which the commission contract is signed with the commission recipient.

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• Key Concepts: 
  Contract currency is a term used in SAP ICM Incentive and Commission Management. It is the currency in which the contract between the company and its customers is denominated. This currency is used to calculate the commission payments for sales representatives and other employees who are involved in the sales process. 
  
  How to use it: 
  The contract currency is set up in the ICM system when a contract is created. This currency will be used to calculate the commission payments for all sales representatives and other employees involved in the sales process. The contract currency can be changed at any time, but it must be done manually in the ICM system. 
  
  Tips & Tricks: 
  It is important to ensure that the contract currency is set up correctly in the ICM system, as this will affect how commission payments are calculated. It is also important to keep track of any changes made to the contract currency, as this could have an impact on commission payments. 
  
  Related Information: 
  For more information on setting up and managing contract currencies in SAP ICM Incentive and Commission Management, please refer to the official SAP documentation.