what is payment terms. what is the diff. b/w terms of payment
and payment terms
Answer Posted / lakshmi.r
A payment terms is a key to define the terms of payment for the vendor or customer as per the terms agreed between them to make the payment.
Eg: If payment done in 10 days 5% discount will be given on due amount like so on. Its a term which defines the due date for the payment also.
The difference b/w those two is Terms of payment we define for customers and payment terms is for vendors both we need to attach to master records to identify the due date.
Is This Answer Correct ? | 4 Yes | 1 No |
Post New Answer View All Answers
What are the common reasons for errors in accounting?
What is a financial statement version? : fi- general ledger accounting
What is an account group? : fi- general ledger accounting
What is pbo and pai events?
How do you go about configuring material ledger?
For document clearing what are the customizing prerequisites ?
Explain the process of calculating the planned activity output through long term planning?
What is an activity type? : co- cost center accounting
What do you understand by a line item? : cost center accounting
What is a statistical key figure (skf)? : co- cost center accounting
What is a plan version? : co- cost center accounting
Explain reversal of documents in sap? : fi- general ledger
Any one please give me some real time tickets with solutions
Explain cost center accounting? : co- general controlling
Explain plan layout? : co- cost center accounting