What is effective price in SAP MM-PUR - Purchasing?

SAP Term: effective price

• Component: MM-PUR

• Component Name: Purchasing

• Description: A price calculated taking all pricing conditions into account for example, taxes, delivery costs, discounts, or miscellaneous provisions.

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• Key Concepts: 
  Effective price is a term used in SAP MM-PUR Purchasing to refer to the price of a material or service that is valid for a certain period of time. It is the price that is used for the calculation of the value of goods and services purchased. 
  
  How to use it: 
  In SAP MM-PUR Purchasing, effective price is used to determine the value of goods and services purchased. It is calculated by taking into account the current market price, discounts, taxes, and other factors. The effective price can be set manually or automatically based on the current market conditions. 
  
  Tips & Tricks: 
  When setting an effective price, it is important to consider all factors that may affect the value of goods and services purchased. This includes discounts, taxes, and other factors. Additionally, it is important to keep track of changes in market conditions so that the effective price can be adjusted accordingly. 
  
  Related Information: 
  For more information on effective price in SAP MM-PUR Purchasing, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed information on how to use effective price in SAP MM-PUR Purchasing.