What is approved amount in SAP LO-WTY - Warranty Claim Processing?

SAP Term: approved amount

• Component: LO-WTY

• Component Name: Warranty Claim Processing

• Description: Total net amount of all items of a claim that the supplier agrees to pay.

Smart SAP Assistant

• Key Concepts: 
  Approved amount is a term used in the LO-WTY Warranty Claim Processing component of SAP. It refers to the amount of money that is approved by the warranty provider for a customer's claim. This amount is determined based on the customer's claim and the terms of the warranty agreement. 
  
  How to use it: 
  In order to use the approved amount, a customer must first submit a warranty claim. The warranty provider will then review the claim and determine an appropriate amount to approve. Once this amount is determined, it will be entered into SAP as the approved amount. 
  
  Tips & Tricks: 
  When submitting a warranty claim, it is important to provide as much detail as possible in order to ensure that the approved amount is accurate. Additionally, it is important to review the terms of the warranty agreement in order to understand what types of claims are eligible for approval and what amounts may be approved. 
  
  Related Information: 
  The approved amount is just one part of the LO-WTY Warranty Claim Processing component of SAP. Other related terms include warranty coverage, claim status, and payment processing. Understanding how these terms interact with each other can help ensure that customers receive accurate and timely payments for their claims.