postingtips.pptVIP

Payment terms can be entered into the company code segment, sales area segment, and purchasing organization segment of a customer / vendor master data, which payment terms are defaulted when posting an invoice depends on where the invoice is created: - If the invoice is created in FI module, the payment terms from the company code segment are defaulted. * Invoice related credit memos: Credit memos can be linked to the original invoice by entering the invoice number in the invoice “reference” field during document entry. In this case, the payment terms are copied from the invoice so that the invoice and the credit memo are due on the same date. * The description of a payment term consists of three elements: A system determined explanation which is a sales related description for printing on invoices, and a user defined explanation. ? The account type determines the subsidiary ledger in which the payment term can be used. If you use payment terms for vendors and customers, it is useful to maintain them using different payment term keys and then to only use them for one account type: This avoids such mishaps as changing the cash discount from 3% to 2% for terms you use for a customer without changing the terms for a vendor (unintentionally) at the same time. * A payment method (for each country, the system has payment methods defined that you can use in that country) is entered in the line items or the accounts. Like payment blocks, payment methods can be entered in the payment terms. A block key and payment method defined in a payment term will be defaulted in the line item when the terms of payment is used. * Baseline Date: the starting date the system uses to calculate the invoice due date. ? The following rules apply when defining the calculation of the baseline date: The default values from which the baseline date can be determined are as follows: ‘No Default; ‘Posting Date; ‘Document Date or ‘Entry Date’ Specifications for calculating the baseline date: - T