Billing Terms Flashcards
Collective Invoice
More than one Order and Deliveries but only One Invoice
Order___/-Delivery\
_Delivery_\__Invoice
Order——Delivery___/
Separate Invoice per Delivery
One Order with Multiple Deliveries and corresponding Invoices
Order_____
\__Delivery—-Invoice
_Delivery—-Invoice
Invoice Split
One Order, one Delivery and Two Invoices
Order-Delivery__Invoice
_Invoice
Billing Due List
Builds a Work List of invoices that should be generated
Periodic Billing Plan
Total Amount for a Planned Billing Period
Milestone Billing Plan
Distributes Total Amount over Multiple Billing Dates
Used typically with PS (Project Systems)
Installment Billing Plan
Evenly Proportioned Amounts and Defined Payment Dates
Resource Related Billing Plan
- Consumed Resources such as Service or Consulting
* Bill Customers for Work done & Materials used, other costs incurred on a project.
Contracts
- Legally Binding Document between a Customer and a Vendor.
- Defines Quantities and Validity Period for a Customer
- Contracts are Fulfilled by Orders Placed Against Contracts (Release Orders)
- Automatically Updated through Release Order Processing
Scheduling Agreements
- Part of Procurement Cycle
* Automatically created through MRP or manually created w/TCODE ME31L
Lockbox
- Refereed to as Remittance Service
- A P. O. Box that is accessible by Company’s bank to check and process as they come in.
Retail Lockbox: Consumer Payments
Wholesale Lockbox: B2B
Dunning (Process)
Methodical Process of Communication to Ensure Collection of Accounts Receivable. (i.e.. from Gentle Reminders to Intimidating Location Visits)
Billing Process Categories
- Standard Invoice
- Credit
- Debit
- Invoice Corrections
Billing Type Menu Tree Path
- Sales & Distribution
- Billing
- Billing Documents
- Define Billing Types
