Example of Creating Payment Terms Based on Days
This example demonstrates how to create payment terms that are based on a certain number of days from the invoice terms date.
This table summarizes key decisions for the scenario.
Decisions to Consider |
In This Example |
---|---|
Are terms based on amounts or percentages? |
Percentages |
What are the due dates and discounts? |
The due dates and discounts are as follows:
|
Creating Payment Terms Based on Days
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Navigate to the Manage Payment Terms page.
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Click Create to open the Create Payment Terms page.
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In the Name field, enter the payment term name.
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Click Add Row in the Installments section to create the first installment.
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Complete the fields, as shown in this table.
Field
Value
Due Percent
40
Days
10
First Discount Percent
5
First Discount Days
7
-
Click Add Row in the Installments section to create the second installment.
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Complete the fields, as shown in this table.
Field
Value
Due Percent
35
Days
20
First Discount Percent
3
First Discount Days
15
-
Click Add Row in the Installments section to create the third installment.
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Complete the fields, as shown in this table.
Field
Value
Due Percent
25
Days
30
First Discount Percent
2
First Discount Days
25
-
Click Save.