What is baseline date for payment in SAP FI - Financial Accounting?

SAP Term: baseline date for payment

• Component: FI

• Component Name: Financial Accounting

• Description: The date from which the terms of payment apply. The baseline date for payment is the basis for the permitted cash discount amount or the due date of the invoice.

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• Key Concepts: 
  Baseline date for payment is a term used in SAP Financial Accounting (FI) to refer to the date on which a payment is due. This date is determined by the payment terms that have been set up in the system. The baseline date for payment is used to calculate the due date of an invoice, and it can be adjusted if necessary. 
  
  How to use it: 
  The baseline date for payment can be set up in the system by going to the Payment Terms tab in the Financial Accounting (FI) module. Here, you can enter the payment terms that will be used to determine the due date of an invoice. Once these terms have been set up, they will be used to calculate the due date of any invoices that are created in the system. 
  
  Tips & Tricks: 
  It is important to ensure that the payment terms that are set up in the system are accurate and up-to-date. This will ensure that invoices are paid on time and that there are no delays in payments. Additionally, it is important to remember that the baseline date for payment can be adjusted if necessary. 
  
  Related Information: 
  For more information about setting up payment terms in SAP Financial Accounting (FI), please refer to SAP Help documentation. Additionally, you can find more information about how to adjust the baseline date for payment in SAP Help documentation as well.