The payment terms specify how the payment due date of an invoice is calculated.
They are filled in on the invoice, but can be indicated starting with the order and a default value indicated for the supplier.

For example, a payment term can be:

• 12 days following the end of the month: payment to be made on the 12th of the month following the month of invoice receipt.
• 60 days: payment to be made within 2 months following the date of invoice receipt.

In this function, you define the payment terms available in the application. The list will be enlarged if new agreements are reached with suppliers.

 

Accessing the list of payment terms

1. Place the cursor in the [Purchasing] module and select [Payment terms] from the [Configuration] section.
   → The list of payment terms is displayed.

Next, see the Detail form § Managing a list in a form.

 

Description of the fields

• Code: Identifier of the terms, unique in the application. Choose a meaningful code, because the name generally is not displayed.
• Name: Additional name of the terms.
• Lead time (days): Number of days following the date of invoice receipt. As customary:
  • 30 days: 1 month,
  • 60 days: 2 months,
  • 90 days: 3 months.
• End of month payment? : If the box is checked, the time is calculated from the end of the current month.
• Day of the month: Day of the month when payment is expected. In this case, the "End of month payment" box is generally checked.
• Comment: Free text describing the payment terms.