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

SAP Term: standard settlement rule

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management Defines the assignment of settlement types and remuneration types. The standard settlement rule assigns remuneration types to a settlement type and its periods.

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• Key Concepts: 
  Standard settlement rules are used in ICM Incentive and Commission Management (ICM) to define the conditions under which a commission is paid out. These rules are used to determine the amount of commission that is due to a salesperson or other commission recipient based on the sales volume, product mix, and other criteria. 
  
  How to use it: 
  Standard settlement rules can be set up in ICM to define the conditions under which a commission is paid out. These rules can be used to determine the amount of commission that is due to a salesperson or other commission recipient based on the sales volume, product mix, and other criteria. The rules can also be used to set up payment schedules for commissions, such as monthly or quarterly payments. 
  
  Tips & Tricks: 
  When setting up standard settlement rules in ICM, it is important to ensure that all criteria are clearly defined and that all relevant information is included. This will help ensure that the correct amount of commission is paid out in a timely manner. Additionally, it is important to review and update the rules regularly to ensure that they remain up-to-date with any changes in the sales environment. 
  
  Related Information: 
  For more information on setting up standard settlement rules in ICM, please refer to the SAP Help Portal or contact your local SAP representative. Additionally, there are several online resources available that provide detailed information on how to set up and manage standard settlement rules in ICM.