What is payment release agreement in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: payment release agreement

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management A set of rules defining the way in which a settlement schedule item is released for disbursement.

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• Key Concepts: 
  A Payment Release Agreement (PRA) is a document that outlines the terms and conditions of a payment release. It is used in SAP ICM Incentive and Commission Management (ICM) to define the criteria for releasing payments to sales representatives or other commission recipients. The PRA defines the payment amount, payment frequency, payment method, and other details related to the payment release.
  
  How to use it: 
  In SAP ICM, a Payment Release Agreement is created in the Payment Release Agreement (PRA) screen. This screen allows users to define the criteria for releasing payments, such as the payment amount, payment frequency, payment method, and other details. Once the PRA is created, it can be used to automatically release payments to sales representatives or other commission recipients based on the criteria defined in the PRA.
  
  Tips & Tricks: 
  When creating a Payment Release Agreement in SAP ICM, it is important to ensure that all of the criteria are properly defined. This will ensure that payments are released accurately and on time. Additionally, it is important to review and update the PRA periodically to ensure that it remains up-to-date with any changes in payment terms or conditions.
  
  Related Information: 
  For more information about Payment Release Agreements in SAP ICM, please refer to the SAP Help Portal at https://help.sap.com/viewer/product/SAP_ICM/7.0/en-US.