What is billing plan in SAP CRM-S4-SOM - S4CRM: Subscription Order Management?

SAP Term: billing plan

• Component: CRM-S4-SOM

• Component Name: S4CRM: Subscription Order Management

• Description: In SAP Convergent Invoicing, a billing plan defines a schedule for creating recurring billable items for billing. The billing plan is assigned to a provider contract in Contract Accounts Receivable and Payable FI-CA.

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• Key Concepts: 
  A billing plan is a feature of SAP Subscription Order Management (S4CRM) that allows customers to set up a payment plan for their subscription orders. It allows customers to pay for their subscription orders in installments, rather than all at once. The billing plan also allows customers to set up automatic payments, so that they don't have to manually make payments each month. 
  
  How to use it: 
  To use the billing plan feature, customers must first create a subscription order in SAP S4CRM. Once the order is created, customers can then set up a billing plan for the order. This can be done by selecting the “Billing Plan” option from the order details page. Customers can then select the payment frequency (monthly, quarterly, etc.), the payment amount, and the payment date. 
  
  Tips & Tricks: 
  When setting up a billing plan, it is important to make sure that the payment amount is correct and that the payment date is set correctly. It is also important to make sure that the customer has enough funds in their account to cover the payments. 
  
  Related Information: 
  For more information on setting up a billing plan in SAP S4CRM, please refer to the SAP Help documentation.