What is settlement date in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: settlement date

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management The date on which a settlement item is transferred to a target system.

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• Key Concepts: 
  Settlement date is a term used in ICM Incentive and Commission Management (ICM). It is the date when a commission or incentive payment is due to be paid out to the recipient. This date is determined by the ICM system and is based on the terms of the agreement between the payer and the recipient. 
  
  How to use it: 
  The settlement date is set by the ICM system when a commission or incentive payment is created. This date can be adjusted by the user if needed. The settlement date can also be used to track payments and ensure that they are paid out on time. 
  
  Tips & Tricks: 
  It is important to keep track of settlement dates in order to ensure that payments are made on time. If a payment is not made on time, it could result in penalties or other consequences. It is also important to ensure that all relevant information about the payment, such as the amount and recipient, is accurate before setting the settlement date. 
  
  Related Information: 
  Settlement dates are closely related to payment terms, which are used to determine when payments are due. Payment terms can be set up in ICM and can be used to automate payments and ensure that they are made on time.