What is Purchasing Contract Processing With Release Based on Supplier Invoice in SAP (AP-PCP - SRM Purchasing Contract Processing)?

SAP Term: Purchasing Contract Processing With Release Based on Supplier Invoice

• Component: AP-PCP

• Component Name: SRM Purchasing Contract Processing

• Description: The processing of purchasing contracts that have releases made by supplier invoices. A supplier invoice is created and posted with direct reference to a purchasing contract. A corresponding release history is recorded in the contract.

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• Key Concepts: 
  Purchasing Contract Processing with Release Based on Supplier Invoice is a component of SAP SRM (Supplier Relationship Management) that allows companies to manage their purchasing contracts with suppliers. This component enables companies to create and manage contracts with suppliers, track the progress of the contract, and release payments based on the supplier's invoice. 
  
  How to Use It: 
  The Purchasing Contract Processing with Release Based on Supplier Invoice component of SAP SRM can be used to create and manage contracts with suppliers. This includes setting up the terms of the contract, such as payment terms, delivery dates, and other conditions. The component also allows companies to track the progress of the contract and release payments based on the supplier's invoice. 
  
  Tips & Tricks: 
  When using the Purchasing Contract Processing with Release Based on Supplier Invoice component of SAP SRM, it is important to ensure that all contracts are properly set up and tracked. This will help ensure that payments are released in a timely manner and that all contractual obligations are met. Additionally, it is important to ensure that all invoices are accurate and up-to-date before releasing payments. 
  
  Related Information: 
  The Purchasing Contract Processing with Release Based on Supplier Invoice component of SAP SRM is part of a larger suite of tools for managing supplier relationships. Other components include Supplier Evaluation & Qualification, Supplier Collaboration, and Supplier Performance Management. These components can be used together to create an effective supplier relationship management system.