What is receivable in SAP SAP-LEGAL - Global Field Legal?

SAP Term: receivable

• Component: SAP-LEGAL

• Component Name: Global Field Legal

• Description: The Payment Amounts as defined in the MIPA plus tax if applicable due on each due date and payable by Customer to SAP as detailed in the Payment Schedules annexed in the MIPA.

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• Key Concepts: 
  Receivable is an accounting term used to describe money owed to a company by its customers. In SAP-LEGAL Global Field Legal, receivable is a financial asset that represents money owed to the company by its customers for goods or services that have been delivered or used but not yet paid for. 
  
  How to use it: 
  In SAP-LEGAL Global Field Legal, receivables are recorded in the Accounts Receivable ledger. This ledger tracks all money owed to the company by its customers and is used to generate invoices and track payments. The Accounts Receivable ledger also allows companies to track customer credit limits and payment terms. 
  
  Tips & Tricks: 
  It is important to regularly review the Accounts Receivable ledger in order to ensure that all payments are being received on time and that customer credit limits are not being exceeded. Additionally, it is important to ensure that all invoices are accurate and up-to-date in order to avoid any disputes with customers. 
  
  Related Information: 
  Receivables can also be managed using SAP-LEGAL Global Field Legal’s Accounts Receivable module, which provides additional features such as automated payment reminders, credit checks, and dispute resolution tools. Additionally, SAP-LEGAL Global Field Legal offers a range of reporting tools that allow companies to analyze their receivables data and identify areas for improvement.