In the competitive enterprise resource planning system (ERP), SAP has created its place in first row in delivering comprehensive solutions for business world. Among its numerous functionalities, SAP introduces very core modules that deal with the financial processes, most preferably payment terms. Payment term is efficient for smooth invoicing and payment processing. Moreover, it is very useful for timely transaction and optimization of cash flow. For the completion of this, there are several tables in SAP system dedicated to payment handling system. In this article we will explore the designing intention of SAP Payment term tables keeping in view their importance, functionalities and interconnection.

TableDescriptionsFunctional Areas
T8JPTSPayment Term SchemaJoint Venture und Production Sharing Accounting
T8JPTSTPayment Term Schema DescriptionJoint Venture und Production Sharing Accounting
TDZWIS-IS: Payment terms with adjustment daysTreasury
TDZWTIS-IS: Payment terms with adjustment daysTreasury
T8JPT1Cutback Payment Terms per Recovery IndicatorJoint Venture und Production Sharing Accounting
T8JPT2Cutback Payment Terms per RI and Original Payment TermsJoint Venture und Production Sharing Accounting
T023QFast/Accelerated Pay Payment TermUS Prompt Payment Act
SAP Payment Term Tables

The Basics of Payment Terms in SAP

In all business relationships, the agreement on payment terms plays key role. In SAP system, SAP Payment Term Tables generate opaque terms and conditions governing due dates, cash discounts, and payment methods. The payment table T052, holds configuration of payment terms, storing core information like payment term key, descriptive texts, and early payment discount percentages. With the support of these tables, it is very easy for entrepreneurs to work with specific business needs and industry practices. As these T052V tables have multilingual support, therefore they enable global communication among the business partners.

Customization and Company Code Assignment

Among the various salient features of Payment Term Tables, there is one outstanding feature of customization. The Table T045 manages different cash discount periods on the foundation of payment term key. The companies are granted permission to define key date, the valid period for cash discount, and the corresponding cash discount periods.

Governing the Payment Methods

SAP Payment Term Tables are versatile not in holding due dates and cash discounts; but also in facilitation of perfect integration of payment methods. In SAP ERP system T047 tables are designed to handle each payment term. Organizations are assigned privileges for payment methods such as check or bank transfer.