You can assign customer terms to an account on the A/R Demographics screen. These terms are used to determine the due date for an invoice. If you use payment plans, the payment plan invoice due dates are determined by the configuration on the payment plan step.
Add a Customer Term
- Click the Customer Terms link from the Main Menu. The Customer Terms screen opens.
- Click the Add button. The Add Customer Terms screen opens.
- Enter the necessary information:
- Description - Name for the customer term.
- Code - Unique alphanumeric code.
- Discount Days - Number of days the discount percent if available. For example, if the invoice is paid within 10 days.
- Net Days - Number of days until the net balance is due.
- Abbreviated - Abbreviated description of the customer terms description.
- Discount Percent - Discount percentage the customer receives within the entered Discount Days.
- End of Month - If checked, the customer needs to submit the payment by the end of the invoice date month.
- Status - Only active customer terms are available for selection on the A/R Demographics screen.
- Click OK.
Set Default Customer Terms
You can default the customer terms on the A/R Demographics screen so all new accounts and contacts automatically have customer terms applied:
- Click the Accounts Receivable Configuration link from the Main Menu. The Account Receivable Configuration screen opens.
- Select the customer terms to default from the Terms drop-down.
- Click OK.
Change a Customer Term
You can change the information for a customer term after you have created it. When you change the information for a customer term, it updates wherever the customer term is used. If you don't want to update the already existing customer term data, then you must add a new customer term using the steps in Add a Customer Term.
- Click the Customer Terms link from the Main Menu. The Customer Terms screen opens.
- Select the customer term to edit.
- Right-click and select Edit. The Edit Customer Terms screen opens.
- Make the desired change.
- Click OK.
Inactivate a Customer Term
If you no longer use a customer term but want to keep record of it for reporting or other purposes, you can make it inactive. When you make a customer term inactive, it is no longer available for selection on the A/R Demographics screen for accounts.
- Click the Customer Terms link from the Main Menu. The Customer Terms screen opens.
- Select the customer term to make inactive.
- Right-click and select Edit. The Edit Customer Terms screen opens.
- Select Inactive from the Status drop-down.
- Click OK.
Delete a Customer Term
If you no longer use a customer term and don't want to keep a record of it, you can delete it. You cannot undo the delete process.
- Click the Customer Terms link from the Main Menu. The Customer Terms screen opens.
- Right-click on the customer term to delete.
- Select Mark for Delete.
- Click the Save button. The Replace screen opens.
- Select the new value to replace the deleted value from the drop-down.
- Click OK.
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