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".
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
DATE TO BASE ON
Enter I to base the terms on the Invoice Date, or R to base the terms on the Received Date.
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 1st and the 15th of the month, the discount due day is calculated according to this entry line.
MONTHS TO INCR
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.
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
# 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 1st and the 15th of the month will use this calculation line to determine the due day. Example: 31=Invoices dated between the 16th and the 31st of the month will use this calculation line.
MONTHS TO INCR
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