Note: You can click the button (or press F5) to invoke specific field help from within the job panel.

Business Benefits

For each Customer whom you bill, you may have Payment Terms different from other Customers with whom you deal:

• for some you may require payment on delivery (C.O.D.),
• for others you may allow a month to pay (net 30),
• and for others still you may provide an incentive for them to pay your Invoices early by providing a Discount for faster payment (e.g., 2% 10 days, net 30).

The Accounts Receivable system allows you to identify each of these different Payment Terms, and calculates Due Dates and Discounts accordingly. You may use the Terms Maintenance program to create your own Invoice Payment codes and terms, for use in the Accounts Receivable system.

Note: For related documentation and workflows, see CR - Client Related.

Usage

This job (which appears as WP.21 [Terms Codes] and CR.02 [Invoice Terms of Payment]) is used to maintain the Accounts Receivable Terms File for the purpose of

• specifying the Terms of the Customers and their Orders and
• making an Overdue Analysis of the accounts according to their Terms.

Each Customer is assigned a standard Payment Term in program CR.06 [Customer Names and Addresses]; when an Invoice is entered, the corresponding Payment Terms are automatically applied.

List/Print: There is no option in this program to print the values on the screen. This is done in program AR.51 [A/R Terms Codes - Print].

Preconditions

Gather all the Payment Terms information that you have given your Customers in the past.

Select a meaningful code for each different Payment Term that you require.

Subsequent Actions

Payment Terms created in this program will be used in the following programs:

AR.51 [A/R Terms Codes - Print] to print a list of the Payment Terms created in AR.50 [A/R Terms Codes].

CR.06 [Customer Names and Addresses] to assign the Payment Terms code that is applicable to each Customer; the terms will apply automatically each time the Customer is used.

AR.01 [Outstanding Invoices - Convert] the Payment Terms assigned to that Customer will apply automatically to the Invoice (you can override the "automatic" terms if necessary).

AR.02 [Invoices - Enter Batch] the Payment Terms assigned to that Customer will apply automatically to the Invoice (you can override the "automatic" terms if necessary).

Program Fields and Functions

To review a text version of the field help, click here. Click the button (or press F5) to invoke field help at any time from within the job panel itself.