Credit Terms

This screen allows you to maintain Credit Terms.  These Terms are applied to both Customers and yourself when linked to a Supplier.

Entry and Display fields

List Panel

Term Name: Display only field showing the name of the Terms as entered into the ‘Detail’ tab

Description: Display only field showing a description of the Terms

Term Days: Display only field showing number of days from the ‘Days From’ parameter that defines when the payment is due.

Days From: Display only field showing when payment is due.  The displayed options are:

Early Discount: Display only checkbox showing if an early payment discount is applied to these terms.

External Term Name: Display only field showing the name of the associated Term (in the linked Accounting System) as entered into the ‘Detail’ tab

Data Display Options

Field Position - On this screen you can move the field position by dragging the column heading left or right to the position where you want it to appear.

Buttons

Close: This will close the Credit Terms screen.  If you have any unsaved data then you will be asked if you wish to save it before the screen is closed.

Add: This will show a blank ‘Detail’ screen for entry of a new Credit Term.

Save: Not applicable to the List panel

Cancel: Not applicable to the List panel

Delete: This removes the current highlighted Credit Terms.

Set Default: Highlight a Credit Term and click on this button.   This will then become the default Terms that will prefill the screen when creating a new Customer or Supplier.  The Terms can be amended in those screens and made specific to the Customer or Supplier.

Detail Panel

This screen enables you to maintain Credit Terms as follows:

Term Name: Access is only allowed during an ‘Add’ transaction.  Enter a name for the Terms (example: Nett 30, EOM, 20th Next, etc).  Duplicate Names not allowed.

Description: Enter a short description of the Term.  No validity checks are carried out.

Term Days: Enter the number of days from the ‘Days From’ definition when the payment is due.

Days From: From the drop-down list select the time from which the ‘Term Days’ will be applied.  The options are:

Early Payment Discount Applies: If you are offering an early payment discount against this Term then ‘check’ this checkbox.  This will open the following 3 fields for entry of the early payment details.

Term Days: Enter the number of days from the ‘Days From’ definition up to which an early payment discount will be given.  For example: If 10 days from ‘Invoice Date’ is entered then any payment prior to the 10 days will benefit from the ‘Prompt Payment’ Discount.

Days From: From the drop-down list select the time from which the ‘Term Days’ will be applied.  The options are:

Payment Discount %: Enter the percentage amount of discount that will be given if the payment is made within the Early Payment time period.

Notes: You can add extensive notes to this Credit Term.  Whenever you click on this field an icon will appear in the top-right.  By clicking on this Icon you can bring up the Frequently Used Text table.  Select the text to be copied and either press the OK Button in that screen or double-click the selected record.

Buttons

Close: This will close the Credit Terms screen.  If you have any unsaved data then you will be asked if you wish to save it before the screen is closed.

Add: This will show a blank ‘Detail’ screen for entry of a new Credit Term.

Save: This will save the current data without exiting the screen

Cancel: Any changes made since the line was actioned or the last time the ‘Save’ Button was pressed will be lost.

Delete: Not applicable to the Detail panel