Examples of Setting Up Terms Codes

Here are three examples:

  1. For all Invoices due on the 30th of the following month, a 2% discount will be applied if the Invoice is paid by the 10th of the following month.

  2. All Invoices dated between the 1st and 15th, are due on the 15th of following month; those dated between the 16th and 31st are due on the 31st of the following month.

  3. All Invoices are due on the 30th day of the '2nd month following'.

The AP02 set up for each example is illustrated below:

    Example #

    Day

    Invoice

    Dated

    From

    Day

    Invoice

    Dated

    To

    'Day'

    of

    Date

    Generated

    # Months

    Following
    1 - Pmt Terms 1 31 30 1
    1 - Disc Terms 1 31 10 1
             
    2 - Pmt Terms 1 15 15 1
    2 - Pmt Terms 16 31 31 1
    2 - Disc Terms n/a n/a n/a n/a
             
    3 - Pmt Terms 1 31 30 2
    3 - Disc Terms n/a n/a n/a n/a

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