What is down payment invoice in SAP AP-PAY - FIN Payment Processing?

SAP Term: down payment invoice

• Component: AP-PAY

• Component Name: FIN Payment Processing

• Description: A request agreed on in the contract to make a down payment before a product has been delivered or a service performed. This partial invoice is posted as a receivable or payable in accounting. The payment that is received later is reported as a down payment. There are exceptions in some countries where this down payment invoice is already posted in accounting. The payment that is received later is then reported as a normal payment.

Smart SAP Assistant

• Key Concepts: 
  A down payment invoice is a type of invoice used in SAP's Accounts Payable (AP) and Financial Payment Processing (FIN-PAY) components. It is used to record a payment made in advance of goods or services being delivered. The down payment invoice is used to track the amount of money that has been paid and the amount that is still owed. 
  
  How to use it: 
  In SAP, a down payment invoice is created by entering the vendor's information, the amount of the down payment, and the date of the payment. The invoice can then be posted to the vendor's account. Once the goods or services have been delivered, the remaining balance can be paid using a regular invoice. 
  
  Tips & Tricks: 
  When creating a down payment invoice, it is important to ensure that all of the information is accurate and up-to-date. This will help to ensure that the vendor receives their payment in a timely manner. Additionally, it is important to keep track of any outstanding payments so that they can be paid when due. 
  
  Related Information: 
  For more information on SAP's Accounts Payable and Financial Payment Processing components, please refer to SAP's official documentation. Additionally, there are many online resources available that provide detailed instructions on how to use these components.