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What are terms of payments and where are they stored?
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Answer Posted / Pushpendra Arya
Terms of Payment (ToP) refer to the agreed conditions between a buyer and seller for settling the accounts payable or accounts receivable. They include details such as payment date, due date, grace period, and discount terms. In SAP, Terms of Payment are stored under the Account Determination in the Customizing (OVA1) and can be assigned to vendor master records.
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