Terms of Payment Basics

Steps :
U001 – 10 DAYS No Default U002 –
10 DAYS Document Date U003 – 10
DAYS Posting Date U004 – 10
DAYS Entry Date

1. Maintenance Of Terms Of Payment – TC – OBB8-------------No Default

IMG-->Financial Accounting-->Accounts Receivable and Accounts Payable--
>Business Transactions-->Incoming Invoices/Credit Memos-->Maintain Terms of Payment

Click on "New entries"

Payment terms =
Account type: If we want to use same payment terms for both Vendor and Customer select b
Select "Vendor" Check Box
 Select "Customer" Check Box

Default Baseline Date:

Select "No Default" Check Box
Payment Terms:

Term % No of Days
1 10

Sales Text =
Click on Save

2. Maintenance Of Terms Of Payment – TC – OBB8-------------Document Date

IMG-->Financial Accounting-->Accounts Receivable and Accounts Payable--
>Business Transactions-->Incoming Invoices/Credit Memos-->Maintain Terms of Payment

Click on "New entries"

Payment terms =
Account type: If we want to use same payment terms for both Vendor and Customer select b
Select "Vendor" Check Box
Select "Customer" Check Box
Default Baseline Date:
Select "Document Date" Check Box
Payment Terms:

Term % No of Days
1 10
Sales Text =
Click on Save

3. Maintenance Of Terms Of Payment – TC – OBB8------------Posting Date

IMG-->Financial Accounting-->Accounts Receivable and Accounts Payable--
>Business Transactions-->Incoming Invoices/Credit Memos-->Maintain Terms of Payment

Click on "New entries"

Payment terms =
Account type: If we want to use same payment terms for both Vendor and Customer select b
Select "Vendor" Check Box
Select "Customer" Check Box
Default Baseline Date:
Select "Posting Date" Check Box
Payment Terms:

Term % No of Days
1 10

Sales Text =
Click on Save

4. Maintenance Of Terms Of Payment – TC – OBB8-------------Entry Date

IMG-->Financial Accounting-->Accounts Receivable and Accounts Payable--
>Business Transactions-->Incoming Invoices/Credit Memos-->Maintain Terms of Payment
 Click on "New entries"
Payment terms =
Account type: If we want to use same payment terms for both Vendor and Customer select b
Select "Vendor" Check Box
Select "Customer" Check Box
Default Baseline Date:
Select "Entry Date" Check Box
Payment Terms:

Term % No of Days
1 10

Sales Text =
Click on Save
‘

400000 RM Consumption A/c Dr 100

To Vendor A/c (400000) Cr 100

Post 4 Entries
‘

5. Posting Vendor Invoice – FB60

SAP Menu->Accounting->Financial Accounting->Accounts Payable->Document Entry-
>Invoice
Change Company Code:
Edit - Change Company Code
Company Code = Press Enter
 Vendor = Invoice Date =
=
Amount Text
=

Click on Payment Tab

Payment Terms =

Items
G/L A/c = Amount =

Text =+
Business Area =

Ensure that balance Field should be equal to ZERO Click on

Simulate Button
Click on Save to Post

6. Check Vendor Line Item Report -TC -FBL1N

Vendor account =
Company code =
Select "open items" Open at
key date =
Click on "execute”
Note: Net Due date column