What is Create Invoicing Plan Settlement in SAP MM-IV - Invoice Verification?

SAP Term: Create Invoicing Plan Settlement

• Component: MM-IV

• Component Name: Invoice Verification

• Description: With this app, you can use an invoicing plan to create invoices over a series of specific invoicing dates independently of individual procurement transactions and the actual receipt of goods or services. You can inform the supplier when the invoice documents are created.

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• Key Concepts: 
  Create Invoicing Plan Settlement is a component of the SAP Materials Management (MM) module, specifically the Invoice Verification (IV) component. This feature allows users to create invoicing plans for goods and services that have been received and verified. The invoicing plan is used to determine when and how much of an invoice should be paid.
  
  How to use it: 
  To use Create Invoicing Plan Settlement, users must first create an invoice plan in the SAP system. This can be done by entering the relevant information such as the vendor, goods or services received, and payment terms. Once the invoice plan is created, users can then create a settlement plan for each invoice. This will determine when and how much of an invoice should be paid.
  
  Tips & Tricks: 
  When creating an invoice plan, it is important to ensure that all relevant information is entered accurately. This will ensure that the settlement plan is accurate and that payments are made on time. Additionally, it is important to review the settlement plan regularly to ensure that payments are being made as expected.
  
  Related Information: 
  Create Invoicing Plan Settlement is part of the SAP Materials Management (MM) module. Other components of this module include Purchasing, Inventory Management, and Logistics Execution. Additionally, Create Invoicing Plan Settlement can be used in conjunction with other features such as Payment Terms and Credit Management.