Setup Payment Terms

Users set Payment Terms to handle:

Due Date Calculation
Factor of Due Date (Invoice Date / Bill Lading Date)
To decide if the system will skip the credit limit approval to a specific customer / order

Follow the below steps to set the Payment Terms:

1) Search "Payment Terms"

2) Create a new row and enter the related information for payment terms

3) Go to Payment Terms by Department Tab. Select the Department Code for identify which department can be use the payment terms.

#	Field	Description
1	Code	Code of the payment terms to recognize
2	Due Date Calculation	*Due Date Calculation (see below for more details)
3	Description	Payment Terms Description
4	Skip Credit Limit Control	Whether the customer's credit limit approval will be skipped. Users can change the payment terms in the order if they only want a specific order to be skipped.
5	Due Date By	To choose the starting date to count the due date
6	Payment Terms Description	Same as (3)
7	LC	Letter of Credit. If unchecked this box, the bank details will be shown in the printout.
8	Customer / Vendor	To select whether the payment terms can be only chosen by Customer / Vendor

Primer on basic date calculations:

C = Current
D = Day
W = Week
M = Month
Q = Quarter
Y = Year
CD = Current Day
CW = Current week
CM = Current month

10D = 10 days from today
2W = 2 weeks from today

D10 = The next 10th day of a month (e.g. 10th date of every month)
WD4 = The next 4th day of a week (Thursday) (e.g. Thursday of every week)

CM+10D = Current month + 10 days

Formula	Due date calculation (from “Document Date”)
30D	30 days
2W	2 weeks
D5	The next 5^th day of a month
CM+10D	Current Month + 10 days

Page tree