What is final settlement in SAP MM-PUR - Purchasing?

SAP Term: final settlement

• Component: MM-PUR

• Component Name: Purchasing

• Description: The determination of the final balance due with respect to an end-of-period rebate arrangement at the end of the validity period of that arrangement as a basis for payment thereof. Any partial or interim settlements that have been effected are taken into account in this process.

Smart SAP Assistant

• Key Concepts: 
  Final settlement is a process in SAP MM-PUR Purchasing that allows for the completion of a purchase order. It is used to close the purchase order and to record the final costs of the goods or services purchased. The final settlement process also allows for the reconciliation of any discrepancies between the original purchase order and the actual costs incurred. 
  
  How to use it: 
  To use final settlement, first open the purchase order in SAP MM-PUR Purchasing. Then, enter the actual costs incurred for the goods or services purchased. Finally, click “Final Settlement” to close the purchase order and record the final costs. 
  
  Tips & Tricks: 
  When using final settlement, it is important to ensure that all discrepancies between the original purchase order and the actual costs incurred are reconciled before closing the purchase order. This will help to ensure that all costs are accurately recorded and accounted for. 
  
  Related Information: 
  For more information on final settlement in SAP MM-PUR Purchasing, please refer to SAP’s official documentation on the topic.