A/R Terms Screen

Specify whether or not to include tax amounts in the invoice total when calculating the discount amount for invoices, as follows:

• Included. Select this option if you allow a discount on taxes.
• Excluded. Select this option if you do not allow a discount on taxes or you do not charge taxes to your customers.

You can change the discount amount on individual invoices, as required.

Enter a description (name) for the terms code.

Select this option if you use standard discount periods for invoices entered within specified ranges of days. (For more information, see the help for the Range field.)

Standard due dates are similar to "day of the month due," except they do not restrict you to a single due date. For example, you can use standard discount dates to assign invoices to the 15th or 30th of each month.

You define standard due dates with a table that lets you specify a discount date for each of up to four ranges of days on which invoices were issued. You can also specify discount dates that are one or more months later than invoice dates.

Enter the amount of the discount, expressed as a percentage of the total due.

Select the method you use to calculate the discount dates for transactions:

• Days from invoice date. Select this option if discount dates are calculated as a particular number of days from the document date.
• End of next month. Select this option if the discount date is the last day of the next month, regardless of the document date or the number of days in the month.
• Day of next month. Type the number of the day of the next month that is the discount date.
• Days from day of next month. Type the number of days from a specific day of the next month.

  Example: If the discount date is 10 days after the first of the month, enter 10 in the Number Of Days field, and 1 in the Day Of Month field.

• Due date table. Select this option if you use standard discount dates for invoices entered within specified ranges of days.

Select this option if you use standard due date periods for invoices entered within specified ranges of days. (For more information, see the help for the Range field.)

Standard due dates are similar to "day of the month due," except they do not restrict you to a single due date.

Example: You can use standard due dates to assign invoices to the 15th or 30th of each month. Standard dates are designed for businesses that enter invoices throughout the month, but print and mail invoices only on specific days of the month.

You define standard due dates with a table that lets you specify a due date for each of up to four ranges of days on which invoices were issued. You can also specify due dates that are one or more months later.

Select the method you use to calculate the due dates for transactions:

• Days from invoice date. Select this option if invoices are due by a particular number of days from the document date.
• End of next month. Select this option if invoices are due on the last day of the next month, regardless of the document date or the number of days in the month.

• Day of next month. Type the number of the day of the next month that is the due date.

  Example: If invoices are due on the fifteenth of each month, you type 15.

• Days from day of next month. Type the number of days from a specific day of the next month.

  Example: If the due date is 30 days after the first of the month, type 30 in the Number Of Days field, and type 1 in the Day Of Month field.

• Due date table. Select this option if you use standard due dates for invoices entered within specified ranges of days.

Select this option if you do not want to assign the terms code to any customers.

You primarily use the option when you decide to delete a terms code, and want to ensure it is not assigned to any additional customer accounts. You can change your entry any time.

You cannot assign inactive terms codes to customer records. Also, you cannot save changes to customer records and national accounts that use the inactive code, unless you first assign an active terms code to the records.

This information field displays the date of the last change made to the terms code. You do not make an entry in this field.

Select this option to define a terms code that allows installment payments.
When you select this option, the terms table expands to accommodate additional payments (otherwise, only a single line is displayed).

This column appears in the payment schedule to the right of the Discount Percent column by default. Its name depends on your selection for the Discount Type field:

• Number of Days. This column indicates that the discount period expires the specified number of days from the invoice date or number of days from Day of Next Month.
• Day of Month Due. This column displays the day of the next month on which the discount expires.

This column appears in the payment schedule to the left of the Discount Percent column by default. Its name depends on your selection for the Due Date Type field:

• Number of Days. This column indicates that the due date is the specified number of days from the invoice date or number of days from Day of Next Month.
• Day of Month Due. This column displays the day of the next month that payment is due.

If you selected Multiple Payment Schedule, enter as many periods as you want.

Press the Insert key to add payment numbers. Accounts Receivable automatically numbers payments, starting with 1.

Note: Make sure the numbers entered in the other columns are greater than zero.

Enter the percentage of the balance that is due for each payment number.

The total of amounts entered in this column must always equal 100.

For each standard due date or discount date, you must define a range of days, using the following fields:

• Starting Day. First day in range.
• Ending Day. Last day in range.
• Add Months. Specify a due date or discount period that is one or more months later than the invoice date.
• Day of Month. Specify the day of the month that is the due date or the end of the discount period.

Enter a code to identify the terms, using up to six characters.