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

standard billing period - Overview

• Component: IS-U-BI

• Component Name: Contract Billing

• Description: Period between the meter reading date of the last periodic result plus 1 day and the meter reading date of the current periodic result. &EXAMPLE& Date of last periodic result: March 31, 2005 Date of current periodic result: April 30, 2006 This results in the following standard billing period: SBP = April 1, 2005 to April 30, 2006

standard billing period - Details

• 
  Key Concepts: 
  Standard billing period is a feature of the IS-U-BI Contract Billing component of SAP. It allows customers to set up a regular billing cycle for their contracts, such as monthly or quarterly. This helps to streamline the billing process and ensure that customers are billed on time. 
  
  How to use it: 
  To set up a standard billing period, customers must first create a contract in the IS-U-BI Contract Billing component. Once the contract is created, customers can select the desired billing period from the drop-down menu. The system will then automatically generate invoices for the customer based on the selected billing period. 
  
  Tips & Tricks: 
  It is important to note that customers can only select one billing period per contract. If customers need to change their billing period, they must create a new contract with the desired billing period. 
  
  Related Information: 
  For more information about setting up standard billing periods in SAP, please refer to the official SAP documentation.