![]() You are surely able to change these if needed when entering a document into the vendor account. The system proposes the payment term key and payment terms. ![]() Once these are defined, you can assign these terms to the vendor or customer master records. It enables the system to automatically determine the appropriate payment terms. In the SAP system, you define the payment terms as rules using a four-character key. Generally, the shorter the credit or payment period the higher the discount offered and vice versa. The terms of payment represent the specifications of the payment conditions such as the number of days by which the payment is to be made or whether there is a discount for early payment. Unless you maintain the correct settings, your system users will find it difficult to process the transactions with the speed and accuracy needed to support the business. This is to handle the business transactions the way you want to meet your organization’s specific processing requirements. Once you have the master data in the system available to your vendors, the next logical step is to configure the system.
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