Common Elements Used to Manage Bilateral Netting

Apply Discount to Transactions

Select to indicate that the system should consider the discount from the payment terms when calculating netted amounts. .

Closing Method

Select Partial, the delivered default value.

Contact

Specify the financial contacts for a netting relationship.

Contract ID

Enter the netting contract identification number.

Customer ID

Enter the unique identifier code for a customer.

Discount Available Amount

Displays the amount of discount that is available for payable vouchers and receivable items. This value is calculated when the Apply Discount to Transactions option is selected.

GL Unit

Enter the General Ledger business unit.

Netting Rule ID

Enter the netting rule identification code.

Participant ID

Enter the netting participant identification code.

Payable Discount Available

Displays the amount of discount that is available for payable vouchers. This value is calculated when the Apply Discount to Transactions option is selected.

Receivable Discount Available

Displays the amount of discount that is available for receivable items. This value is calculated when the Apply Discount to Transactions option is selected.

Remit Vendor

Enter the vendor payee.

Schedule SetID

Select the correct SetID to establish the interval when the netting executes.

Settlement Date

Specify the actual date of the settlement payment.

Vendor ID

Enter a unique identifier code for a vendor.