What is settlement step in SAP IS-U-CA - Contract Accounts Receivable and Payable?

SAP Term: settlement step

• Component: IS-U-CA

• Component Name: Contract Accounts Receivable and Payable

• Description: Consecutive number within a settlement variant that identifies individual steps in the underlying settlement strategy. The rules for grouping, sorting, and clearing the items are defined in the individual steps. The number determines the processing sequence of the individual steps.

Smart SAP Assistant

• Key Concepts: 
  Settlement step is a process in the Contract Accounts Receivable and Payable (IS-U-CA) component of SAP. It is used to settle open items in customer accounts, such as invoices, payments, and credit memos. The settlement step is used to ensure that all open items are accounted for and that the customer's account balance is accurate. 
  
  How to use it: 
  The settlement step is initiated by the user in the SAP system. The user will enter the customer's account number and select the settlement step option. The system will then display all open items associated with the customer's account. The user can then select which items to settle and enter the appropriate payment information. Once all open items have been settled, the system will update the customer's account balance accordingly. 
  
  Tips & Tricks: 
  When using the settlement step, it is important to ensure that all open items are accounted for and that the payment information entered is accurate. It is also important to double-check the customer's account balance after completing the settlement step to ensure accuracy. 
  
  Related Information: 
  The settlement step is part of the Contract Accounts Receivable and Payable (IS-U-CA) component of SAP. Other components of IS-U-CA include billing, dunning, and payment processing. For more information on these components, please refer to SAP's official documentation.