What is contract handling for invoices in SAP MM - Materials Management?

SAP Term: contract handling for invoices

• Component: MM

• Component Name: Materials Management

• Description: With contract handling for invoices you can create invoices with reference to a contract or limit purchase order item.

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• Key Concepts: 
  Contract handling for invoices is a feature of SAP Materials Management (MM) that allows users to manage contracts related to invoices. This feature enables users to create, view, and edit contracts related to invoices, as well as track the status of the contracts. It also allows users to set up payment terms and conditions for the contracts. 
  
  How to use it: 
  To use contract handling for invoices in SAP MM, users must first create a contract. This can be done by entering the details of the contract, such as the customer name, invoice number, and payment terms. Once the contract is created, users can view and edit it as needed. They can also track the status of the contract by viewing its progress in the system. 
  
  Tips & Tricks: 
  When creating a contract in SAP MM, it is important to enter all relevant information accurately. This will ensure that the contract is properly tracked and managed in the system. Additionally, it is important to review all contracts regularly to ensure that they are up-to-date and accurate. 
  
  Related Information: 
  For more information on contract handling for invoices in SAP MM, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips on how to use this feature effectively.