What is invoicing plan in SAP PS - Project System?

SAP Term: invoicing plan

• Component: PS

• Component Name: Project System

• Description: A credit-side schedule for the planned outgoing payments made for an externally procured network activity or for an externally procured component. The invoicing plan contains invoice and down payment dates.

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• Key Concepts: 
  An invoicing plan is a tool used in the SAP Project System (PS) component to manage billing and invoicing for projects. It allows users to define the conditions for billing and invoicing, such as the amount of time or money that must be spent before an invoice can be issued. The invoicing plan also allows users to set up payment terms and conditions, such as when payments are due and how much interest will be charged for late payments.
  
  How to use it: 
  Invoicing plans are created in the SAP Project System (PS) component. To create an invoicing plan, users must first define the conditions for billing and invoicing, such as the amount of time or money that must be spent before an invoice can be issued. Then, users must set up payment terms and conditions, such as when payments are due and how much interest will be charged for late payments. Finally, users must assign the invoicing plan to a project or group of projects. 
  
  Tips & Tricks: 
  When creating an invoicing plan, it is important to consider the payment terms and conditions carefully. This will ensure that all parties involved in the project are aware of when payments are due and how much interest will be charged for late payments. Additionally, it is important to review the invoicing plan regularly to ensure that it is up-to-date with any changes in the project or payment terms. 
  
  Related Information: 
  For more information on invoicing plans in SAP Project System (PS), please refer to the SAP Help Portal at https://help.sap.com/viewer/product/SAP_PROJECT_SYSTEM/731/en-US.