Payment terms master data refers to the information and settings that define the terms and conditions under which a company conducts its financial transactions, including payment due dates, discounts, and penalties.
In this lesson, we will explore the importance of maintaining accurate and up-to-date payment terms master data, as well as the steps involved in managing and updating this data effectively.
Payment Terms Data
Payment terms indicate the negotiated discount between a buying organization and supplier for a specified number of days before payment is due. When you import the Payment Terms data, the Managed Gateway Add-On’s Master Data extract program processes only the Normal Payment Terms, and the Installment Payment terms are excluded. While integrating the Payment Terms data in SAP ERP or SAP S/4HANA (on premise) with SAP Ariba Procurement solutions using the Managed Gateway for Spend and Network, you can additionally send the following information:
- Day Limit
- Baseline date calculation: fixed day; additional months
- Baseline date
- Payment terms: fixed day (discounted baseline); additional months (discounted)
