| • | Terms Codes – The Terms Code Control File is used to identify the terms that you offer to your customers and that your vendors offer to you. Information entered here will be used to calculate due dates and early payment discounts. |
| ▪ | Create a new Terms Code (3 characters / alphanumeric) unique from existing codes provided in the list box. Click OK. |
| ▪ | Description (19 characters / alphanumeric) – The full description of the terms (i.e. 2% 10 Days Net 30). |
| ▪ | Short Description (10 characters / alphanumeric) – A shortened version of the above used in reports and areas where space is at a premium (i.e. 2-10/30). |
| ▪ | Days Until Due (5 characters / numeric) – The number of days from the invoice date until the due date (i.e. 30). |
| ▪ | Discount Rate (10 characters / numeric) – The percentage discount offered in whole numbers without symbols (i.e. 2). |
| ▪ | Days Until Discount Expires (5 characters / numeric) – The number of days between the invoice date and the date the discount expires (i.e. 10). |
| ▪ | Day of Month for Due Date (5 characters / numeric) – This field is for terms that require a payment to be made on a particular day of the month. The program will calculate the due date by adding the Days Until Due to the invoice date and then changing the day of the month to the number in this field. |
| ▪ | Day of Month for Discount (5 characters / numeric) – This field is for terms where the discount expires on a particular day of the month. The program will calculate the discount date by adding the Days Until Discount Expires to the invoice date and then changing the day of the month to the number in this field. |
|