What is billing plan in SAP PS - Project System?

SAP Term: billing plan

• Component: PS

• Component Name: Project System

• Description: A list of dates from which down payment requests and invoices relevant to sales are sent to customers. The planned revenues and planned incoming payments are automatically derived from the billing plan and recorded in the relevant WBS element.

Smart SAP Assistant

• Key Concepts: 
  A billing plan is a tool used in the SAP Project System (PS) component to define the conditions for billing customers. It is used to determine when and how much a customer should be billed for a project. The billing plan can be set up to bill customers on a fixed schedule, or it can be set up to bill customers based on certain milestones or events. 
  
  How to use it: 
  The billing plan is created in the SAP system and is linked to the project. The billing plan can be set up to bill customers on a fixed schedule, or it can be set up to bill customers based on certain milestones or events. The billing plan can also be used to define discounts, payment terms, and other conditions related to the billing process. 
  
  Tips & Tricks: 
  When setting up a billing plan, it is important to consider the customer’s payment terms and any discounts that may apply. It is also important to ensure that the billing plan is linked correctly to the project in order for it to work properly. 
  
  Related Information: 
  For more information about setting up a billing plan in SAP PS, please refer to the SAP Help documentation.