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

SAP Term: net price

• Component: MM-PUR

• Component Name: Purchasing

• Description: Price after taking all vendor surcharges and discounts into account.

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• Key Concepts: 
  Net price is a term used in SAP MM-PUR Purchasing to refer to the price of an item after any discounts or deductions have been applied. It is the final price that the buyer pays for the item. 
  
  How to use it: 
  In SAP MM-PUR Purchasing, net price is used to calculate the total cost of an item. The net price is determined by subtracting any discounts or deductions from the original price of the item. This calculation can be done manually or automatically using SAP software. 
  
  Tips & Tricks: 
  When calculating net price, it is important to take into account any additional fees or taxes that may be applicable. These fees and taxes can significantly affect the final cost of an item and should be taken into consideration when calculating net price. 
  
  Related Information: 
  Net price is closely related to other terms such as gross price, list price, and invoice price. Gross price refers to the original cost of an item before any discounts or deductions are applied. List price is the suggested retail price of an item, while invoice price is the amount that a buyer pays for an item after all discounts and deductions have been applied.