Fields in the Credit Terms window - Default Customer/Vendor view

Fields in this window

Credit Terms window - Default Customer/Vendor view

Payment is Due

Choose one of the following payment terms from the list:

C.O.D.: The balance of the transaction is due at the time the items are delivered.

PREPAID: The balance of the transaction is due at the time the transaction occurs.

IN A GIVEN # OF DAYS: The payment due date and early payment discount date are based on a number of days since the transaction date.

ON A DAY OF THE MONTH: The payment due date and early payment discount date are based on the month in which the transaction was recorded and the selections you make in the Discount Date and Balance Due Date fields. For example, if the transaction was recorded in April, the discount date is 10th (the first of the month) and the balance due date is EOM, a discount would apply if the balance was paid by April 10and the entire balance would be due April 30.

# OF DAYS AFTER EOM: The payment due date and early payment discount date are based on a number of days after the end of the month.

DAY OF MONTH AFTER EOM: The payment due date and early payment discount date are based on the month after which the transaction was recorded and the selections you make in the Discount Date and Balance Due Date fields. For example, if the transaction was recorded in April, the discount date is 1st (the first day of the following month) and the balance due date is EOM, a discount would apply if the balance was paid by May 1and the entire balance would be due May 31.

Discount Days

Enter the number of days from the transaction date for which the discount applies. For example, if the transaction date is April 20 and the number of discount days is 10, a discount would apply if the balance was paid on or before April 30.

If you selected On a Day of the Month or Day of Month after EOM in the Payment is Due field, select the day of the month for which the discount applies.

If you select a day in the month that comes before the transaction date, the discount will apply until that day in the next month. For example, if the transaction date is April 20and the discount date is 19, a discount would apply if the balance was paid on or before May 19.

Balance Due Days

Enter the number of days from the transaction date that the balance of the transaction is due. For example, if the transaction date is April 20and the number of balance due days is 10, the balance must be paid on or before April 30.

If you selected On a Day of the Month or Day of Month after EOM in the Payment is Due field, select the day of the month the transaction is due.

If you select a day in the month that comes before the transaction date, the balance won’t be due until that day in the next month. For example, if the transaction date is April 20and the balance due date is 19, the balance must be paid on or before May 19.

% Discount for Early Payment

Enter the discount percentage offered if a transaction balance is paid on or before the discount due date.

% Monthly Charge for Late Payment

Enter the monthly charge percentage you assign to this customer’s balance if their transaction balance isn’t paid by the balance due date.

This field appears only if you’re viewing a customer’s credit terms.

Price Level

Choose the customer’s price level, if you’ve set up multiple price levels for your inventory items in the Selling Details view of the Item Information window. Items prices at the level you choose here will appear as default entries on item invoices for this customer.

This field appears only if you’re viewing a customer’s credit terms.

Tax Code

Select the tax code that applies to this customer, if you’re entering customer information, or the tax code that applies to your company, if you’re entering information for one of your vendors.

If you're entering credit terms for a vendor, the tax code you enter here will appear as a default entry on purchase orders for the selected vendor. If you're entering credit terms for a customer, the tax code you enter here will appear as a default entry on invoices for this customer.

Note: Tax codes that have been assigned a tax type of Import Duty or Consolidated tax codes that contain Import Duty cannot be selected here.

Credit Limit

Enter this customer’s credit limit with your company, or your credit limit with this vendor.

Cancel button

Click this button to clear any entries you’ve made and close the window.

OK button

Click this button to accept the entries you’ve made in this window

Fields in the Credit Terms window - Default Customer/Vendor view

*Payment is Due*	Choose one of the following payment terms from the list: C.O.D.: The balance of the transaction is due at the time the items are delivered. PREPAID: The balance of the transaction is due at the time the transaction occurs. IN A GIVEN # OF DAYS: The payment due date and early payment discount date are based on a number of days since the transaction date. ON A DAY OF THE MONTH: The payment due date and early payment discount date are based on the month in which the transaction was recorded and the selections you make in the Discount Date and Balance Due Date fields. For example, if the transaction was recorded in April, the discount date is 10th (the first of the month) and the balance due date is EOM, a discount would apply if the balance was paid by April 10and the entire balance would be due April 30. # OF DAYS AFTER EOM: The payment due date and early payment discount date are based on a number of days after the end of the month. DAY OF MONTH AFTER EOM: The payment due date and early payment discount date are based on the month after which the transaction was recorded and the selections you make in the Discount Date and Balance Due Date fields. For example, if the transaction was recorded in April, the discount date is 1st (the first day of the following month) and the balance due date is EOM, a discount would apply if the balance was paid by May 1and the entire balance would be due May 31.
*Discount Days*	Enter the number of days from the transaction date for which the discount applies. For example, if the transaction date is April 20 and the number of discount days is 10, a discount would apply if the balance was paid on or before April 30. If you selected On a Day of the Month or Day of Month after EOM in the Payment is Due field, select the day of the month for which the discount applies. If you select a day in the month that comes before the transaction date, the discount will apply until that day in the next month. For example, if the transaction date is April 20and the discount date is 19, a discount would apply if the balance was paid on or before May 19.
*Balance Due Days*	Enter the number of days from the transaction date that the balance of the transaction is due. For example, if the transaction date is April 20and the number of balance due days is 10, the balance must be paid on or before April 30. If you selected On a Day of the Month or Day of Month after EOM in the Payment is Due field, select the day of the month the transaction is due. If you select a day in the month that comes before the transaction date, the balance won’t be due until that day in the next month. For example, if the transaction date is April 20and the balance due date is 19, the balance must be paid on or before May 19.
*Balance Due Days*
*% Discount for Early Payment*	Enter the discount percentage offered if a transaction balance is paid on or before the discount due date.
*% Monthly Charge for Late Payment*	Enter the monthly charge percentage you assign to this customer’s balance if their transaction balance isn’t paid by the balance due date. This field appears only if you’re viewing a customer’s credit terms.
*Price Level*	Choose the customer’s price level, if you’ve set up multiple price levels for your inventory items in the Selling Details view of the Item Information window. Items prices at the level you choose here will appear as default entries on item invoices for this customer. This field appears only if you’re viewing a customer’s credit terms.
*Tax Code*	Select the tax code that applies to this customer, if you’re entering customer information, or the tax code that applies to your company, if you’re entering information for one of your vendors. If you're entering credit terms for a vendor, the tax code you enter here will appear as a default entry on purchase orders for the selected vendor. If you're entering credit terms for a customer, the tax code you enter here will appear as a default entry on invoices for this customer. Note: Tax codes that have been assigned a tax type of Import Duty or Consolidated tax codes that contain Import Duty cannot be selected here.
*Credit Limit*	Enter this customer’s credit limit with your company, or your credit limit with this vendor.
*Cancel button*	Click this button to clear any entries you’ve made and close the window.
*OK button*	Click this button to accept the entries you’ve made in this window