What is rate contract account in SAP (FI-CA-INV - Convergent Invoicing)?

SAP Term: rate contract account

• Component: FI-CA-INV

• Component Name: Convergent Invoicing

• Description: To furnish all consumption items of a contract account with an amount as part of a rating process.

Smart SAP Assistant

• Key Concepts: 
  A rate contract account is a type of account used in SAP's FI-CA-INV Convergent Invoicing component. It is used to store the details of a rate contract, which is an agreement between a customer and a vendor that sets the terms of a purchase. This includes the price, quantity, and delivery date of the goods or services being purchased. The rate contract account stores all of this information and allows for easy access when creating invoices. 
  
  How to use it: 
  In order to use a rate contract account, you must first create one in the FI-CA-INV Convergent Invoicing component. This can be done by entering the details of the rate contract into the system, such as the price, quantity, and delivery date. Once this is done, you can then create invoices based on the information stored in the rate contract account. 
  
  Tips & Tricks: 
  When creating a rate contract account, it is important to ensure that all of the details are accurate and up-to-date. This will help to ensure that invoices created using this account are accurate and reflect the terms of the agreement between the customer and vendor. Additionally, it is important to keep track of any changes made to the rate contract account so that these changes can be reflected in future invoices. 
  
  Related Information: 
  For more information on rate contracts and how to use them in SAP's FI-CA-INV Convergent Invoicing component, please refer to SAP's documentation on rate contracts. Additionally, there are many online resources available that provide detailed tutorials on how to use rate contracts in SAP's FI-CA-INV Convergent Invoicing component.