What is price element in SAP SD - Sales and Distribution?

SAP Term: price element

• Component: SD

• Component Name: Sales and Distribution

• Description: Corresponds to a price condition or to a subtotal of various price conditions.

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• Key Concepts: 
  A price element is a component of a pricing procedure in SAP Sales and Distribution (SD). It is used to determine the pricing of goods and services. Price elements can be either fixed or variable, and can be based on a variety of factors such as quantity, discounts, taxes, and more. 
  
  How to use it: 
  In SAP SD, price elements are used to define the pricing of goods and services. They are used in conjunction with condition records, which contain the actual pricing information. When creating a sales order, the system will use the condition records to determine the pricing of the goods or services based on the price elements. 
  
  Tips & Tricks: 
  When creating condition records, it is important to ensure that all relevant price elements are included. This will ensure that the correct pricing is applied when creating sales orders. Additionally, it is important to keep track of any changes made to condition records as this could affect the pricing of goods and services. 
  
  Related Information: 
  For more information on price elements in SAP SD, please refer to the SAP Help Portal (https://help.sap.com/viewer/product/SAP_SD/6.0/en-US). Additionally, there are many online resources available that provide detailed information on how to use price elements in SAP SD.