What is consumption item type in SAP FI-CA-INV - Convergent Invoicing?

SAP Term: consumption item type

• Component: FI-CA-INV

• Component Name: Convergent Invoicing

• Description: Definition of the business meaning of a consumption item.

Smart SAP Assistant

• Key Concepts: 
  Consumption item type is a feature of the FI-CA-INV Convergent Invoicing component of SAP. It is used to define the type of item that is being consumed, such as a service, product, or material. This information is used to determine the pricing and billing rules for the item. 
  
  How to use it: 
  The consumption item type is set up in the SAP system by an administrator. It can be used to define different types of items that are consumed, such as services, products, or materials. The consumption item type can also be used to define pricing and billing rules for each type of item. 
  
  Tips & Tricks: 
  When setting up the consumption item type in SAP, it is important to ensure that all relevant information is included. This includes the type of item being consumed, pricing and billing rules, and any other relevant information. This will ensure that the system is able to accurately process invoices and other transactions related to the consumption item type. 
  
  Related Information: 
  The consumption item type feature is part of the FI-CA-INV Convergent Invoicing component of SAP. It can be used in conjunction with other features such as pricing and billing rules, payment terms, and more. For more information on how to use this feature, please refer to the SAP documentation or contact your SAP support team.