Payment terms/terms of payment

Payment terms in SAP FICO involves discount methods and related time frames for payment you send your customer.  The configuration for payment terms is same for both Account payable (A/P) and account receivable (A/R).

Financial accounting --> A/R & A/P --> business transactions --> outgoing invoices/ credit memos --> maintain terms of payment.

Every vendor and customer is assigned to payment terms and payment methods.
It will pulled to all line item level when we do transactions. We can change payment terms at the time of postings. Line item will have priority over master data record.

Based on the posting date system propose payment to the vendor/ customer.




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