What is 'payment terms' in SAP SRD-SRM - SRM-Supplier Relationship Management?

payment terms - Overview

• Component: SRD-SRM

• Component Name: SRM-Supplier Relationship Management

• Description: The agreed conditions for the payment of the price charged for products, such as due date and credit terms.

payment terms - Details

• 
  Key Concepts: 
  Payment terms are the conditions under which a supplier is paid for goods or services provided. They are typically outlined in a contract between the supplier and the customer. Payment terms can include the payment amount, payment due date, payment method, and any discounts or incentives that may be offered. 
  
  How to use it: 
  In SAP SRM-Supplier Relationship Management, payment terms are used to define the conditions of payment for goods or services provided by a supplier. This includes the payment amount, payment due date, payment method, and any discounts or incentives that may be offered. Payment terms can be set up in the system and applied to all transactions with a particular supplier. 
  
  Tips & Tricks: 
  When setting up payment terms in SAP SRM-Supplier Relationship Management, it is important to ensure that all relevant information is included. This includes the payment amount, payment due date, payment method, and any discounts or incentives that may be offered. It is also important to ensure that all parties involved understand and agree to the terms before they are set up in the system. 
  
  Related Information: 
  For more information on setting up payment terms in SAP SRM-Supplier Relationship Management, please refer to the SAP Help Portal. Additionally, there are many online resources available that provide detailed information on setting up and managing payment terms in SAP