Payment Terms, Pymt Terms, and Default Payment Terms

Enter the code that specifies the terms of payment, including the percentage of discount available if the invoice or voucher is paid by the discount due date. Use a blank code to indicate the most frequently used payment term. You define each type of payment term on the Payment Terms Revisions form. Examples of payment terms include:

Blank: Net 15.

001: 1/10 net 30.

002: 2/10 net 30.

003: Due on the 10th day of every month.

006: Due upon receipt.

The payment term code prints on customer invoices.