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In SAP FICO what are the terms of payment and where are they stored?

In SAP FICO what are the terms of payment and where are they stored?

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In SAP FICO what are the terms of payment and where are they stored?

Answer

    Payment terms are created in the configuration and determine the payment due date for vendor/customer invoice.

    They are stored on the customer or vendor master record and are pulled through onto the customer/vendor invoice postings. The due date can be changed on each individual invoice if required.

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