What is pricing and payment event in SAP LO-GT - Global Trade Management?

SAP Term: pricing and payment event

• Component: LO-GT

• Component Name: Global Trade Management

• Description: A business event in Logistics whose planned or actual occurrence date is used as a basis for the calculation of prices or payment dates.

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• Key Concepts: 
  Pricing and Payment Event is a component of SAP's Global Trade Management (LO-GT) module. It enables companies to manage their pricing and payment processes in a more efficient and automated way. It allows companies to set up pricing rules, payment terms, and payment methods for their customers. It also provides visibility into the status of payments and invoices, allowing companies to better manage their cash flow. 
  
  How to use it: 
  The Pricing and Payment Event component of LO-GT can be used to set up pricing rules, payment terms, and payment methods for customers. Companies can also use it to track the status of payments and invoices, as well as to generate reports on pricing and payment activity. 
  
  Tips & Tricks: 
  When setting up pricing rules, it is important to consider the customer's needs and preferences. Companies should also ensure that their payment terms are clear and easy to understand. Additionally, companies should regularly review their pricing rules and payment terms to ensure they are up-to-date. 
  
  Related Information: 
  For more information on the Pricing and Payment Event component of LO-GT, please refer to the SAP Help Portal or contact your local SAP representative.