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Payment Terms

Receivables lets you define standard payment terms for your customers. Payment terms can include a discount percent for early payment and you can assign multiple discounts to each payment term line. You can define proxima payment terms to pay regular expenses such as telephone bills and credit card bills that occur on the same day each month. You can also create split payment terms for invoice installments that have different due dates.

You can use your payment terms to determine the amount of each installment. Receivables lets you either distribute tax and freight charges across all installments, or allocate all freight and tax amounts in the first installment of a split term invoice. Receivables displays the active payment terms you define as list of values choices in the Customers, Customer Profile Classes, and Transactions windows.

Receivables provides two predefined payment terms:

   To define a payment term:

See Also

Payment Terms Field Reference

Entering Transactions

Defining Customer Profile Classes

Payment Terms Field Reference

Payment Terms Listing

Entering Discount Information

Receivables lets you assign discounts to your payment terms. You can also assign multiple discount line terms to each installment of your payment terms. For example, you might give your customer a 10% discount if they pay within 10 days, but only a 5% discount if they pay 11 to 20 days after the invoice date.

Discounts do not apply to Automatic Receipts. If you use the automatic receipts feature to create your Bills of Exchange and Direct Debits, Receivables will not calculate discounts, even if your customers pay before the due date.


   To assign discount information to a payment term:

See Also


Discount Projection Report

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