What is 'billing class' in SAP IS-U-BI - Contract Billing?

billing class - Overview

• Component: IS-U-BI

• Component Name: Contract Billing

• Description: Classification of contracts within one division, for example, residential contracts or nonresidential contracts.

billing class - Details

• 
  Key Concepts: 
  Billing class is a feature of the IS-U-BI Contract Billing component of SAP. It is used to define the characteristics of a billing document, such as the type of billing document, the frequency of billing, and the payment terms. It also defines the pricing conditions for the billing document. 
  
  How to use it: 
  In order to use the billing class feature, you must first create a billing class in the system. This can be done by entering the necessary information in the relevant fields in the system. Once created, you can assign this billing class to a contract or customer master record. This will ensure that all billing documents created for that contract or customer will have the same characteristics as defined in the billing class. 
  
  Tips & Tricks: 
  When creating a billing class, it is important to ensure that all necessary information is entered correctly. This will ensure that all billing documents created with this class will have the correct characteristics and pricing conditions. Additionally, it is important to remember that a billing class can be assigned to multiple contracts or customer master records. 
  
  Related Information: 
  For more information on how to use and configure the billing class feature in SAP IS-U-BI Contract Billing, please refer to SAP Help documentation.