Day Limit in Payment Terms
What is the "Day Limit" in Payment terms.
If there is multiple day limit for a single payment term,which will be determined in the sales order?
To do business with customers and vendors, an organization needs to configure and manage payment terms in their SAP system. The organization also needs to change certain parameters in customer pricing as dictated by the market.
It is essential to monitor the payment term configuration changes and other critical field value changes such as day limit, cash discount percentage rates, and payment period, to prevent AR/AP instability and deficiency in the business process.
This control reports the details of frequent changes made to the payment terms, and the users who initiated these changes.
Customer payment time-frame allowed and the discounts amount given for early payment if any.
Day Limit - e.g. if you enter 15
An invoice date on or before the 15th of the month are payable on the last day of the next month
An invoice date after the 15th of the month are payable on the 15th of the month after the next month.
Edited by: Syed Hussain on Oct 7, 2008 6:54 PM