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

payment scheme - Overview

• Component: IS-U-IN

• Component Name: Invoicing

• Description: Budget billing procedure where the bill amount of the last consumption billings is transferred to the budget billing plan. Payments can be made weekly, two-weekly, monthly, quarterly, or annually.

payment scheme - Details

• 
  Key Concepts: 
  Payment scheme is a component of the SAP IS-U-IN Invoicing module. It is used to define the payment terms and conditions for customers. This includes the payment method, payment period, and payment amount. It also allows for the creation of payment plans and discounts for customers. 
  
  How to use it: 
  The payment scheme is used to define the payment terms and conditions for customers. This includes the payment method, payment period, and payment amount. It also allows for the creation of payment plans and discounts for customers. To create a payment scheme, go to the SAP IS-U-IN Invoicing module and select “Payment Scheme” from the menu. Enter the details of the payment scheme, such as the payment method, payment period, and payment amount. Once you have entered all of the details, click “Save” to save the payment scheme. 
  
  Tips & Tricks: 
  When creating a payment scheme, it is important to consider the customer’s needs and preferences. For example, if a customer prefers to pay in installments, you can create a payment plan that allows them to do so. Additionally, you can offer discounts or other incentives to encourage customers to pay on time. 
  
  Related Information: 
  For more information about SAP IS-U-IN Invoicing and Payment Scheme, please refer to SAP’s official documentation at https://help.sap.com/viewer/product/ISU_INV/latest/en-US