Sold To And Bill To Difference
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FAQ
Bill-to Party: The bill-to is the party to whom the bill is sent. Again, the bill-to can differ from the sold-to and ship-to. For example, it might be the accounts payable department at the customer's company. Payer: The fourth mandatory partner is the payer.
When using the sold to party and bill to party concept, the accounting entries posted along with branch account. i.e bill to party is the main Customer and sold to party is the Branch. While checking the customer balance, we can change the layout to get the branch account detail.
The key difference between a billing address and a shipping address is this: The shipping address calculates shipping costs and delivers the product to customers. The billing address verifies that the customer is an authorized user of the purchasing credit card.
Customer Type Relationships (Sold-to) customer places and pays for order, but directs shipment to another (Temporary Ship-to) person. (Sold-to) customer orders for one or more (Permanent Ship-to) locations, and directs bill to a separate (Bill-to) accounting function.
Sold-to Party ? The account/address with whom the sales agreement is negotiated (i.e. who signed the paper) Bill-to Party ? The account/address to which the invoice will be sent. Ship-to Party ? The account/address to which the goods are sent or services are rendered.