What is 'payment plan' in SAP IS-U-IN - Invoicing?

payment plan - Overview

• Component: IS-U-IN

• Component Name: Invoicing

• Description: An agreement between the customer and the utility company, which determines the amount to be paid for each bill. The payment plan amount is not necessarily the bill amount. The difference amount between the bill amount and the payment plan amount is fixed and posted. The payment plan is not to be compared with the budget billing plan that is charged between two periodic bills.

payment plan - Details

• 
  Key Concepts: 
  A payment plan is a feature of the SAP IS-U-IN Invoicing component that allows customers to pay for goods or services in installments. It allows customers to spread out the cost of a purchase over a period of time, making it easier for them to manage their finances. The payment plan can be set up with a fixed number of payments, or it can be set up with a variable number of payments depending on the customer's needs. 
  
  How to use it: 
  To set up a payment plan in SAP IS-U-IN Invoicing, you must first create a customer account and enter the customer's payment information. Once the customer account is created, you can then create a payment plan for the customer. You will need to specify the number of payments, the amount of each payment, and the date each payment is due. Once the payment plan is created, it will be automatically applied to any invoices that are created for that customer. 
  
  Tips & Tricks: 
  When setting up a payment plan in SAP IS-U-IN Invoicing, it is important to make sure that the payments are spread out evenly over time. This will help ensure that the customer does not become overwhelmed by having too many payments due at once. Additionally, it is important to make sure that the payment amounts are reasonable and