Payment Terms Table
Organizes due dates and payments. This table lets you assign a code to each set of payment terms. Then you can enter the code in payment terms code fields elsewhere in the program, for example on a customer card. After this, when you post or set up orders, invoices, credit memos, and so on, the program will use the payment terms information indicated by the code.
Payment terms must contain a Due Date Calculation formula that the program uses together with the document date to calculate the due date. In addition to this, a set of payment terms can contain a Discount Date Calculation formula, a Discount % and a Calc. Pmt. Disc. on Cr. Memos allowance. These fields must be filled in if the payment terms contain a possible payment discount.
Once you have assigned payment terms to a customer or vendor, the program will automatically calculate the due date when you create an invoice. If you have set up a payment discount, the program will calculate the payment discount date. When you post the invoice, the program will calculate the discount amount possible at this time.
Customer payment terms can be used to manage the collection process (sending reminders and finance charge memos). Vendor payment terms are used in the Suggest Vendor Payments batch job, found by clicking Related Information, point to Payments, and then click Suggest Vendor Payments in the Payment Journal window.
List of Fields in the Table
To see the list of fields in this table, change to the Classic view. Choose the Choose View button in the upper-right corner, and then choose Classic.
| Field | Location |
|---|---|
| Disreg. Pmt. Disc. at Full Pmt Field, Payment Terms Table | Finland Local Functionality |
| VAT distribution Field, Payment Terms Table | Spain Local Functionality |
| Description Field, Payment Terms Table | Purchases and Payables |
| Due Date Calculation Field, Payment Terms Table | Purchases and Payables |
| Discount Date Calculation Field, Payment Terms Table | Purchases and Payables |
| Calc. Pmt. Disc. on Cr. Memos Field, Payment Terms Table | Purchases and Payables |
| Discount % Field, Payment Terms Table | Spain Local Functionality |
| No. of Installments Field, Payment Terms Table | Spain Local Functionality |
| Max. No. of Days till Due Date Field, Payment Terms Table | Spain Local Functionality |
| Code Field, Payment Terms Table | Purchases and Payables |
| Discount % Field, Payment Terms Table | Purchases and Payables |
| OIOUBL Code Field, Payment Terms Table | Denmark Local Functionality |
| Payment Nos. Field, Payment Terms Table | Italy Local Functionality |
| Payment % Field, Payment Terms Table | Italy Local Functionality |
See Also
Reference
Other Resources
Suggest Vendor Payments
Issue Reminders
Issue Finance Charge Memos