Billing Terms

Question 0

Collective Invoice

Answer 0

More than one Order and Deliveries but only One Invoice

Order___/-Delivery\
_Delivery_\__Invoice
Order——Delivery___/

Question 1

Separate Invoice per Delivery

Answer 1

One Order with Multiple Deliveries and corresponding Invoices

Order_____
\__Delivery—-Invoice
_Delivery—-Invoice

Question 2

Invoice Split

Answer 2

One Order, one Delivery and Two Invoices

Order-Delivery__Invoice
_Invoice

Question 3

Billing Due List

Answer 3

Builds a Work List of invoices that should be generated

Question 4

Periodic Billing Plan

Answer 4

Total Amount for a Planned Billing Period

Question 5

Milestone Billing Plan

Answer 5

Distributes Total Amount over Multiple Billing Dates

Used typically with PS (Project Systems)

Question 6

Installment Billing Plan

Answer 6

Evenly Proportioned Amounts and Defined Payment Dates

Question 7

Resource Related Billing Plan

Answer 7

• Consumed Resources such as Service or Consulting

* Bill Customers for Work done & Materials used, other costs incurred on a project.

Question 8

Contracts

Answer 8

• 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

Question 9

Scheduling Agreements

Answer 9

• Part of Procurement Cycle

* Automatically created through MRP or manually created w/TCODE ME31L

Question 10

Lockbox

Answer 10

• 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

Question 11

Dunning (Process)

Answer 11

Methodical Process of Communication to Ensure Collection of Accounts Receivable. (i.e.. from Gentle Reminders to Intimidating Location Visits)

Question 12

Billing Process Categories

Answer 12

• Standard Invoice
• Credit
• Debit
• Invoice Corrections

Question 13

Billing Type Menu Tree Path

Answer 13

• Sales & Distribution
• Billing
• Billing Documents
• Define Billing Types