Chapter 9: Working with Terms (WAPT)
Purpose: Use the Terms function to:
• add or maintain payment terms for vendors and Accounts Receivable customers
• designate the number of days to use in calculating the date that an amount is due
• indicate whether aging an amount due begins with the invoice date or the last day of the month of the invoice date
• define the number of days to use in calculating the date that an amount is due to qualify for a percentage discount
• indicate a percentage discount (what percentage discount your company gives a customer if an amount due is paid within a specified number of days or what percentage discount a vendor gives your company if an amount due is paid within a specified number of days)
Once terms codes are created, you use:
• Creating and Updating Bill-to Customers (WCBT) to assign a terms code to a bill-to customer
• Working with Vendor Items (WVNI) to assign a terms code to a vendor
You can use the Default A/R Payment Terms (D83) field in the System Control file to define a default terms code to assign to new A/R customers.
In this chapter:
How to display this screen: Enter WAPT in the Fast Path field at the top of any menu or select Work with Terms from a menu.
POR0122 DISPLAY Work with Terms 6/11/96 10:11:33 Mail Order Company Gross Disc Opt Term Description Days Days Type Category __ ______________________________ ___ ___ _ _
Type options, press Enter. 2=Change 4=Delete 5=Display
__ 30 NET 30 DAYS 30 0 1 B Both A/R & A/P __ 60 NET 60 DAYS 60 0 1 B Both A/R & A/P __ 90 NET 90 DAYS 90 0 1 B Both A/R & A/P __ 98 NET 120 DAYS 120 0 1 B Both A/R & A/P __ 99 OVER 120 DAYS 121 0 1 B Both A/R & A/P
F3=Exit F6=Create F12=Cancel F21=Print list F24=Select company |
Field |
Description |
Term |
A code that represents the terms. Numeric, 2 positions; optional. |
Description |
The description of the terms code. Alphanumeric, 30 positions; optional. |
Gross Days |
The number of days to use in calculating the due date. Numeric, 3 positions; optional. |
Disc days (Discount days) |
The number of days to use in calculating the due date for a discount. The system uses Discount days when a vendor offers you a discount to pay within a certain number of days. Numeric, 3 positions; optional. |
Type |
The type of terms code. Valid values are: 1 - calculated from the invoice date 2 - calculated from the end of the month of the invoice's date Numeric, 1 position; optional. |
Category |
The category of the terms code. Valid values are: R - Accounts Receivable P - Accounts Payable B - Both Accounts Receivable and Accounts Payable Alphanumeric, 1 position; optional. |
Screen Option |
Procedure |
Create terms codes |
Press F6 to advance to the Create Terms Screen. |
Change terms information |
Enter 2 next to a terms code to advance to the Change Terms Screen. |
Delete terms information |
Enter 4 next to a terms code to delete it. |
Display terms information |
Enter 5 next to a terms code to advance to the Display Terms Screen. |
Purpose: Use this screen to create a terms code.
Create a terms code: At the Work with Terms Screen, press F6.
MSR0157 ENTER Create Terms 6/11/96 10:46:44 Mail Order Company
Terms Code . . . . __
Description . . . . _______________________________ Short description . __________ Discount % . . . . _____ Gross days . . . . ___ Discount days .. . ___ Type . . . . . . . _ (1=Invoice date, 2=End of Month) Category . . . . . _ (R=A/R, P=A/P, B=Both)
F3=Exit F12=Cancel
|
Field |
Description |
Terms code |
A code that represents the terms of payment. Numeric, 3 positions. Create screen: required. Change screen: display-only. |
Description |
The description of the terms code. This text prints on customer invoices. Alphanumeric, 25 positions; required. |
Short description |
The abbreviated description of the terms code. This description prints on reports and displays on screens where space is limited. Alphanumeric, 10 positions; required. |
The percentage discount applied if you pay a vendor within the number of days specified in the Discount days field. Numeric, 5 positions with a 2-place decimal; required. |
|
Gross days |
The number of days to use in calculating the due date. Numeric, 3 positions; required. |
Discount days |
The number of days to use in calculating the due date for a discount. The system uses Discount days and Discount % when a vendor offers you a discount to pay within a certain number of days. Example: When you pay a vendor within 10 days, you receive a 2% discount. You enter 10 in this field and 2.00 in the Discount % field. Numeric, 3 positions; required. |
Type |
The type of terms code used to calculate due date. Valid values are: 1 - calculate from the invoice date. Due Date = invoice date + number of days 2 - calculate from the end of the month of the invoice's date. Due Date = end of invoice month Numeric, 2 positions; required. |
Category |
The category of the terms code. Valid values are: R - used in Accounts Receivable P - used in Accounts Payable B - used in both Accounts Receivable and Accounts Payable Alphanumeric, 25 positions; required. |
To change: Enter 2 next to a terms code at the Work with Terms Screen to advance to the Change Terms screen. At this screen you can change any information except the terms code. See Create Terms Screen for field descriptions.
To display: Enter 5 next to a terms code at the Work with Terms Screen to advance to the Display Terms screen. You cannot update any information on this screen. See Create Terms Screen for field descriptions.
| Chapter 8: Working with Dun & Bradstreet Codes (WD&B) | Contents | SCVs | Search | Glossary | Reports | XML | Index | Chapter 10: Working with Currency (WCUR) |
AP01_09 CWDirect 18.0 August 2015 OTN