What is payment provision in SAP RE - Real Estate Management?

SAP Term: payment provision

• Component: RE

• Component Name: Real Estate Management

• Description: Under German law, an agreement between tenant and landlord governing adjustments of index-linked rent for business premises. The ruling specifies that if the index changes such as the cost of living index, the rent must be recalculated. The tenant must first agree to the adjustment. If no agreement is reached, an expert has to be consulted.

Smart SAP Assistant

• Key Concepts: 
  Payment provision is a feature of SAP Real Estate Management (RE) that allows users to manage payments for rental contracts. It enables users to define payment plans, calculate payments, and track payments for rental contracts. It also allows users to set up payment reminders and generate payment reports. 
  
  How to use it: 
  To use the payment provision feature in SAP RE, users must first create a payment plan for the rental contract. This includes defining the payment terms, such as the amount due, the due date, and any discounts or penalties associated with the payment. Once the payment plan is created, users can then calculate the payments for each period of the rental contract. Finally, users can track payments and generate payment reports to monitor the status of payments. 
  
  Tips & Tricks: 
  When creating a payment plan for a rental contract, it is important to consider any discounts or penalties associated with late payments. This will help ensure that all payments are made on time and that any late fees are properly accounted for. Additionally, it is important to regularly review payment reports to ensure that all payments are being tracked accurately. 
  
  Related Information: 
  For more information on using the payment provision feature in SAP RE, please refer to the SAP Help Portal or contact your local SAP support team. Additionally, there are several online resources available that provide detailed tutorials on how to use this feature.