What is 'settlement' in SAP SRD-FIN-ERM - FIN-Travel and Expense Management?

settlement - Overview

• Component: SRD-FIN-ERM

• Component Name: FIN-Travel and Expense Management

• Description: The process of accounting for expenses claimed by employees.

settlement - Details

• 
  Key Concepts: 
  Settlement in SAP is the process of transferring funds from an employee’s travel and expense account to their bank account. This process is used to reimburse employees for their business-related expenses. It is a part of the SAP SRD-FIN-ERM FIN-Travel and Expense Management component. 
  
  How to use it: 
  To use settlement in SAP, an employee must first submit a travel and expense report. This report must include all relevant information about the expenses incurred, such as the date, amount, and purpose of the expense. Once the report is approved, the funds will be transferred from the employee’s travel and expense account to their bank account. 
  
  Tips & Tricks: 
  It is important to ensure that all information included in the travel and expense report is accurate and up-to-date. This will help to ensure that the settlement process runs smoothly and quickly. Additionally, it is important to keep track of all receipts and other documents related to the expenses incurred, as these may be required for verification purposes. 
  
  Related Information: 
  For more information on settlement in SAP, please refer to the official SAP documentation on SRD-FIN-ERM FIN-Travel and Expense Management. Additionally, there are many online resources available that provide detailed instructions on how to use settlement in SAP.