What is expense settlement in SAP LO-AB - Agency Business (Global Trade)?

SAP Term: expense settlement

• Component: LO-AB

• Component Name: Agency Business (Global Trade)

• Description: A document used to bill expenses to a customer without the need to reference a previous business transaction.

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• Key Concepts: 
  Expense settlement in LO-AB Agency Business (Global Trade) is the process of recording and settling expenses incurred by an agency in the course of its business activities. This includes expenses related to transportation, accommodation, meals, and other services. The expenses are recorded in the system and then settled with the agency's customers. 
  
  How to use it: 
  In order to use expense settlement in LO-AB Agency Business (Global Trade), the agency must first enter all relevant expenses into the system. This includes details such as the date, type of expense, amount, and customer. Once all expenses have been entered, the system will generate a report that can be used to settle the expenses with the customer. 
  
  Tips & Tricks: 
  When entering expenses into the system, it is important to ensure that all details are accurate and up-to-date. This will help to ensure that the expense settlement process runs smoothly and efficiently. Additionally, it is important to keep track of any changes or updates to the expenses so that they can be accurately reflected in the system. 
  
  Related Information: 
  Expense settlement in LO-AB Agency Business (Global Trade) is closely related to other processes such as invoicing and payment processing. It is important to understand how these processes interact with each other in order to ensure that all transactions are properly recorded and settled. Additionally, it is important to understand how expense settlement affects other areas of an agency's business such as budgeting and forecasting.