This article is a quick reference on how to set the default value of baseline date for payment.
A baseline date for payment is the date for which the payment terms apply. It’s the basis of the sytem to determine the cash discount taken (from vendor) or cash discount given (to customer). During entry of customer and vendor invoice transactions, the baseline date field is a required field. You can not proceed with the posting of the transaction not unless the said field is filled-up.
In SAP system, you can customize the default baseline date for payment that appears during transaction entry. You may choose as default either the posting date, document date, entry date or no default date. Do remember you can override the default value of baseline date.
To configure the default value of baseline date for payment, here’s a quick and simple guide:
Transaction Code: OBB8
Path: IMG → Financial Accounting → Accounts Receivable and Accounts Payable → Business Transactions → Outgoing Invoices/Credit Memos → Maintain Terms of Payment.
See highlighted items. Select the the default value either posting date, value date, document date or no default. Bear in mind that the default baseline date is applicable for each payment term you maintain. You could have different default baseline date for different payment terms.