What is direct quotation in SAP FI - Financial Accounting?

SAP Term: direct quotation

• Component: FI

• Component Name: Financial Accounting

• Description: Value ratio between two currencies, usually between the local currency and a foreign currency. Based on the foreign currency, the "price" of a unit of the foreign currency is specified in the local currency. The direct quotation is the reciprocal value of the indirect quotation. &EXAMPLE& Local currency: EUR Foreign currency: USD A unit of the foreign currency USD costs the displayed amount of units of the local currency, that is, 0.92524 EUR.

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• Key Concepts: 
  Direct quotation is a type of document used in SAP Financial Accounting (FI) to record the sale of goods or services. It is a legally binding document that contains the details of the transaction, such as the quantity, price, and terms of delivery. The direct quotation is created by the seller and sent to the buyer for acceptance. Once accepted, it becomes a sales order. 
  
  How to use it: 
  In SAP FI, direct quotations are created using the transaction code VA21. This code allows you to enter all the necessary information about the transaction, such as customer data, item details, and payment terms. Once all the information is entered, you can save the document and send it to the customer for acceptance. 
  
  Tips & Tricks: 
  When creating a direct quotation in SAP FI, it is important to ensure that all the necessary information is included. This includes customer data, item details, payment terms, and any other relevant information. Additionally, it is important to double-check that all the information is accurate before sending it to the customer. 
  
  Related Information: 
  For more information on direct quotations in SAP FI, please refer to SAP Help documentation or contact your local SAP support team. Additionally, there are many online resources available that provide detailed instructions on how to create and manage direct quotations in SAP FI.