What is released value in SAP SRD-SRM-SC - SRM-Sourcing and Contracting?

SAP Term: released value

• Component: SRD-SRM-SC

• Component Name: SRM-Sourcing and Contracting

• Description: The value that has been released against a contract by a purchase order.

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• Key Concepts: 
  Released value is a term used in SAP SRM-Sourcing and Contracting. It is the amount of money that is released from a contract to a vendor for goods or services that have been delivered. This amount is based on the terms of the contract and is usually calculated by the system. 
  
  How to use it: 
  In SAP SRM-Sourcing and Contracting, released value can be used to track the amount of money that has been released from a contract to a vendor. This information can be used to ensure that vendors are paid on time and that contracts are being fulfilled according to their terms. 
  
  Tips & Tricks: 
  When setting up a contract in SAP SRM-Sourcing and Contracting, it is important to ensure that the released value is set correctly. This will ensure that vendors are paid the correct amount for their goods or services. Additionally, it is important to regularly review the released value of contracts to ensure that they are being fulfilled according to their terms. 
  
  Related Information: 
  Released value is related to other terms in SAP SRM-Sourcing and Contracting such as payment terms, invoice verification, and payment processing. Understanding how these terms interact with each other can help ensure that contracts are being fulfilled according to their terms.