What is base value in SAP MM-IV - Invoice Verification?

SAP Term: base value

• Component: MM-IV

• Component Name: Invoice Verification

• Description: The oldest of the existing receipt values.

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• Key Concepts: 
  Base value is a term used in SAP's Materials Management (MM) Invoice Verification (IV) component. It is the value of an invoice item that is used to calculate the amount of goods or services received. This value is determined by the vendor and can be based on the price of the item, the quantity of the item, or a combination of both. 
  
  How to use it: 
  In SAP MM-IV, base value is used to calculate the amount of goods or services received from a vendor. This value is determined by the vendor and can be based on the price of the item, the quantity of the item, or a combination of both. The base value is then used to calculate the total amount due for an invoice. 
  
  Tips & Tricks: 
  When entering an invoice in SAP MM-IV, it is important to ensure that the base value entered matches what was agreed upon with the vendor. This will ensure that all invoices are accurately calculated and that no discrepancies arise between what was agreed upon and what was actually paid. 
  
  Related Information: 
  The base value in SAP MM-IV is related to other terms such as net price, gross price, and discount rate. Net price is the amount paid for an item after any discounts have been applied. Gross price is the amount paid for an item before any discounts have been applied. Discount rate is a percentage that is applied to an invoice item to reduce its cost.