What is a payment term in sap?
Payment terms are created to determine the due date of payment for a sap customer and vendor master data. It’s created separately and assigned to a customer or vendor master based on the requirements.
While posting a customer or vendor invoice in sap, system pulls out data from these customer or vendor master data. Based on the configuration of the payment type, the payment due date is derived.
What is Baseline date in sap?
Baseline date is a date from which the payment terms are determined. Baseline date can be your posting date, document entry date.
What is the difference between document entry date and posting date?
Document entry date is the day on which you entered the document into sap. If you have entered a document/transaction on 11/08/2012 then your document date will be 11/08/2012.
Posting date is a day to which you are posting a particular transaction. If you entered a document on 11/08/2012 by posting it to some other day like 10/08/2012 then 10/08/2012 will be your posting date.
What is vendor group?
Vendor groups are created to group different vendor masters for better control. You manage field status at one place that is required for a particular group instead of managing it from vendor master.
To create vendor group we use transaction code OBD3. We can create vendor group based on our business requirements. Following vendor groups are generally created in sap;
- One time vendor group
- Domestic vendor group
- International vendor group
What is one time vendor?
Some time in business, there can be situations where you will be dealing with a vendor only once. After dealing with it, in near future you are not expecting to do business with them. In these cases you need not create separate vendor masters.
You can create a dummy vendor code to be used for these invoices under one time vendor master group.
While posting invoice you need to enter all those details that are required while creating vendor master in sap.