Credit Terms window—Terms for Invoice # or Purchase # view

This view of the Credit Terms window allows you to change the terms for an individual sale or purchase.

You can change the terms for all sales for a customer in the Selling Details view of the Card Information window and for all purchases for a vendor in the Buying Details view of the Card Information window. You can also set various default credit terms for all new customers and vendors in this window.

The functions and fields of this window differ, depending upon whether you’re viewing the terms of a customer or a vendor.

Field Descriptions

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 the 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 10 and 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 1 and the entire balance would be due May 31.

Discount Days/Date

Enter the number of days from the transaction date for which the early payment discount applies.

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.

Balance Due Days/Date

Enter the number of days from the transaction date that the balance of the transaction is due.

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.

% 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

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

Discount Expires

For this transaction only and based on the credit terms you enter in this window, this is the date the discount expires.

Discount Amount

For this transaction only and based on the credit terms you enter in this window, this is the amount of the early payment discount.

Due Date

For this transaction only and based on the credit terms you enter in this window, this is the date the payment is due.

Monthly Finance Charge

For this transaction only and based on the credit terms you enter in this window, this is the amount of the late payment charge.

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

Cancel

Click to close the window without saving.

OK

Click to save the selections you’ve made in this window.

Tips for this window

Related Topics

■	Credit control

■	Creating a vendor card

■	Creating a customer card