What is payment term in SAP LOD-ESO - Sourcing OnDemand?

SAP Term: payment term

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: A payment arrangement required by the supplier. Payment terms are used in RFx and master agreements.

Smart SAP Assistant

• Key Concepts: 
  Payment terms are the conditions under which a buyer agrees to pay a seller for goods or services. In SAP, payment terms are used to define the payment period, discount percentage, and other details related to the payment of invoices. 
  
  How to use it: 
  In LOD-ESO Sourcing OnDemand, payment terms are used to define the payment period and other details related to the payment of invoices. Payment terms can be set up in the system by navigating to the “Payment Terms” tab in the “Settings” menu. Once there, users can create new payment terms or edit existing ones. 
  
  Tips & Tricks: 
  When setting up payment terms in LOD-ESO Sourcing OnDemand, it is important to ensure that all relevant information is included. This includes the payment period, discount percentage, and any other details related to the payment of invoices. 
  
  Related Information: 
  For more information on setting up payment terms in LOD-ESO Sourcing OnDemand, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/LOD_ESO_SOURCING_ONDEMAND/Cloud/en-US