What is 'foreign receivable' in SAP SRD-FIN-ACR - FIN-Receivables?

foreign receivable - Overview

• Component: SRD-FIN-ACR

• Component Name: FIN-Receivables

• Description: A receivable from a non-resident customer.

foreign receivable - Details

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  Key Concepts: 
  Foreign receivable is an asset that a company has the right to receive from a customer located in a foreign country. It is a type of receivable that is denominated in a foreign currency. The foreign receivable is recorded in the company's books at the exchange rate on the date of the transaction. 
  
  How to use it: 
  In SAP, foreign receivables are managed using the SRD-FIN-ACR FIN-Receivables Management component. This component allows companies to track and manage their foreign receivables, including setting up payment terms, tracking payments, and reconciling accounts. 
  
  Tips & Tricks: 
  When setting up payment terms for foreign receivables, it is important to consider the exchange rate risk associated with the transaction. Companies should also consider any applicable taxes or fees that may be associated with the transaction. 
  
  Related Information: 
  For more information on managing foreign receivables in SAP, please refer to the SAP Help Portal or contact your local SAP representative.