What is payment reference type in SAP CRM-LOC - Localization?

SAP Term: payment reference type

• Component: CRM-LOC

• Component Name: Localization

• Description: A system object that the system uses to generate payment reference numbers. It tells the system which payment reference category the billing unit uses, and in the case of Swiss billing units, what their POR subscriber number is.

Smart SAP Assistant

• Key Concepts: 
  Payment reference type is a component of the SAP CRM-LOC Localization module. It is used to define the payment reference type for a customer or vendor. This reference type is used to identify the payment reference when making payments to or from the customer or vendor. 
  
  How to use it: 
  The payment reference type can be set up in the SAP system by going to the CRM-LOC Localization module and selecting the “Payment Reference Type” option. From there, you can enter the payment reference type for each customer or vendor. 
  
  Tips & Tricks: 
  It is important to ensure that the payment reference type is set up correctly for each customer or vendor, as this will ensure that payments are made correctly and on time. 
  
  Related Information: 
  The payment reference type is closely related to other components of the SAP CRM-LOC Localization module, such as payment terms and payment methods. It is important to understand how these components work together in order to ensure that payments are made correctly and on time.