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Jun 08, 2020 at 05:05 AM

what is settlement and why we need to settle orders in SAP?

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Hi Guys,

I don't understand why we need to do settlement and what is the use of it. When we will be doing settlement, either it will be after receving payment or before ?

I searched in internet about settlement of orders, but ain't got the basics cleared. So please help me out with some basic business example.

Q1: What is settlement and why we need to do it and how payment differs from settlement?

Q2: For what kind of orders, settlement is done ? like only for sales/service orders?

Q3: At what time, the settlement is done ?

Q4: What is production order, as i got this term while searching for basics on settlement.