Add/Edit Term Codes


This screen stores payment terms and discount information which interfaces with accounts payable, accounts receivable, or both. This selection is found on the Accounts Payable main menu.

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CODE

Define a unique code for each payment term. You are then prompted for a code description. Example: CRHLD=credit hold, 215N30=2% discount if paid in 15 days-net30, CASH-cash only To edit/view existing information, enter the code and press RETURN, then edit from the MODIFICATIONS prompt. If the code is unknown, type ??? and RETURN to select from the cross-reference list displayed. The description of the code selected is displayed for reference.

TYPE

DATE TO BASE ON

Enter I to base the payment terms on the Invoice Date or enter R to base the payment terms on the Received Date.

PERCENT

# OF DAYS - DISCOUNT METHOD

Enter the number of days for the Discount, or press RETURN to proceed to the cutoff day field. This is a multi-value field, allowing unlimited lines of entry.

CUTOFF DAY - DISCOUNT METHOD

If a value was entered in the "# of Days" field, bypass this field by pressing RETURN. Otherwise, enter the cutoff day of the month for the discount.

MONTHS TO INCR - DISCOUNT METHOD

DUE DAY - DISCOUNT METHOD

# OF DAYS - PAYMENT METHOD

Enter the number of days for the payment, or press RETURN to proceed to the cutoff day field. This is a multi-valued field, allowing unlimited lines of entry.

CUTOFF DAY - PAYMENT METHOD

If a value was entered in the "# of Days" field for the payment method, bypass this field by pressing RETURN. Otherwise, enter the cutoff day of the month for the payment.

MONTHS TO INCR - PAYMENT METHOD

DUE DAY - PAYMENT METHOD