What is 'final settlement' in SAP RE - Real Estate Management?

final settlement - Overview

• Component: RE

• Component Name: Real Estate Management

• Description: A process for the service charge settlement of apportionable costs. The tenant makes no advance payment, but receives a service charge settlement for the actual service charges incurred during the settlement period.

final settlement - Details

• 
  Key Concepts: 
  Final settlement is a process in SAP Real Estate Management (RE) that allows for the completion of a rental contract. It is used to close out the contract and to transfer all open items to the general ledger. The final settlement process also allows for the calculation of any remaining payments or refunds due to either party. 
  
  How to use it: 
  To use the final settlement process, first select the rental contract that needs to be closed out. Then, enter the date of the final settlement and select the appropriate settlement type. The system will then calculate any remaining payments or refunds due to either party. Once all payments and refunds have been made, the system will close out the contract and transfer all open items to the general ledger. 
  
  Tips & Tricks: 
  When using the final settlement process, it is important to ensure that all payments and refunds have been made before closing out the contract. This will help to ensure that all open items are properly transferred to the general ledger. Additionally, it is important to double-check all calculations before closing out the contract, as any mistakes could lead to incorrect payments or refunds being made. 
  
  Related Information: 
  For more information on using SAP Real Estate Management, please refer to SAP's official documentation on RE. Additionally, there are many online resources