Payment Terms

Payment terms are used by the JD Edwards EnterpriseOne Accounts Payable and Accounts Receivable systems to specify a payment due date and, optionally, a discount percent and discount due date. Payment terms enable you to enter invoices and vouchers more efficiently because the system calculates the due dates and discounts for you. You can specify a default payment term on the customer and supplier records. Then, when you enter a voucher or invoice for that customer or supplier, you can either accept the default value or override it with a different payment term.

Payment term codes can range from simple to complex, depending on your organization's policies. You define a payment term by using a one-, two-, or three-character combination of these types of characters:

• Alphabetic (A–ZZZ)

• Numeric (0–999)

• Special characters (including blank)

For example, you might use A1%, which combines all three types of characters, for a percentage payment term code.

The JD Edwards EnterpriseOne Accounts Payable and Accounts Receivable systems use the same payment terms; payment terms are not system specific.