what is payment term? can u please explain brief?
Answers were Sorted based on User's Feedback
Answer / karnmba
payment terms that apply to transactions with customers and
vendors. Enter the payment terms defined here in the master
records of customers and vendors. The payment term specified
here is proposed automatically when you create a master
record. You can then change this data for each customer or
vendor.The payment terms represent the typical agreements
you have with your customers and vendors. Therefore, you do
not have to define this information from scratch for each
customer and vendor.When a purchasing or sales document is
entered for a vendor or customer, SAP Business One
automatically copies the information on the payment period,
price list, and total discount in the document. This
information is used, to calculate the prices for the items,
the due date of an invoice, or the total discount allowed
etc.You can also change the payment term data manually in
the transaction itself if a special agreement was made for
that transaction. In addition, the information on the credit
limit is copied from the payment term to the customer master
record and then to the sales document, and can be used for a
credit check.
Is This Answer Correct ? | 9 Yes | 0 No |
Answer / kent technologies
Payment terms will decide the Due date of payments or Instalment of payments which are configured in the T code OBB8/9.Auto matic payment programme (APP)basically calculated on the basis of Payment methods..
Is This Answer Correct ? | 8 Yes | 0 No |
Answer / deepak
Payment are used to schedule the payment date for the vendor/customer. The longer the credit period the shorter will be the discount and vice-versa. Payment terms maintain in customer\vendor master record are populate automatically during document entry. Payment term can also be entered in line item. System make calculation as per the payment term entered in line item if payment available in both i.e. master record and line item.
Is This Answer Correct ? | 4 Yes | 0 No |
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