Add/Edit Term Codes

This screen is used to assign codes to various payment terms. This option is found on the General Set-Up sub-menu. Default terms may be established per client after defining the codes here - see the section entitled "Additional Client Information".

(SAMPLES SHOWN)

ENTER THE TERM CODE ID SELECTION>

Enter a unique ID for each new record. Examples: DOR, NET15, COD, CRHLD To view/select existing IDs, enter ??? and RETURN.

Enter the payment terms which will print on customer invoices.

Examples: Due Upon Receipt, Net 15, C.O.D., Credit Hold

Enter a valid type. AP = Accounts Payable, AR = Accounts

Receivable, B = Both

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

DISCOUNT METHOD

Enter the discount percentage allowed this client if payment is received according to the payment terms. This is in addition to any discount amount defined for specific clients in the DISC % field found in the Client Info portion (an X Function) of the Address Master screen.

# OF DAYS

Enter the number of days that the discount is valid according to the terms, or define the days through the following prompts.

If an entry was made at the # of Days field, no entry is required here - just press RETURN. Otherwise, enter the day of the month to cutoff discounts. Example: 15 If the invoice date/received date is between the 1^st and the 15^th of the month, the discount due day is calculated according to this entry line.

Enter the months to increment when calculating the discount date. Example: 0 indicates the due day is this month, 1 indicates the due day is next month.

DUE DAY

Enter the day of the month that the payment which includes a discount is due, or LWD for the last working day of the month.

Examples: 25, LWD

PAYMENT METHOD

# OF DAYS

Enter the maximum number of days in which the net payment is due.

Examples: 0, 15, 30

Enter the day of the month used to calculate the payment due date, or LWD for last working day of the month. Example: 15=Invoices dated between the 1^st and the 15^th of the month will use this calculation line to determine the due day. Example: 31=Invoices dated between the 16^th and the 31^st of the month will use this calculation line.

Enter the months to increment. Example: 0 indicates that the due day is this month, 1 indicates that the due day is next month.

Enter the due day. Example: 25