Payment Terms, Pymt Terms and Default Payment Terms

Enter a code that specifies the terms of payment, including the percentage of discount available if the invoice 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 terms code prints on customer invoices.