Terms

Terms are used in the invoicing.  Terms indicate the terms on which a customer should pay for a sale.  A set of terms is already set up in BUSINESSWARE.  You can add terms at a later time by selecting the Add button.  You can edit or delete terms by double clicking the term in question with the mouse.

Term Name:  The name of the term.

Days Due: Should be a number that represents the number of days the term allows payment be made for an invoice. 

Discount days:  The number of days that you will give your customer a discount if they pay the amount due by the discount day. 

Note:  The discount day should always be a number of days lower than the days due to motivate your customer to pay the invoice earlier.

Discount Percent:  The amount you will discount the invoice if the customer pays the invoice by the discount date.  Enter zero for discount days and discount percent if you do not want to give a discount for early payment of invoices.

To Add a Term:

1)       Select Sales/Receivables.

2)       Select the AR Defaults button.  The Accounts Receivable Defaults window appears.

3)       Select the Terms tab in the Accounts Receivable Defaults window.

4)       Select the Add button.  The Terms Setup window appears.

5)       Enter the Terms Name and Days Due.  Both are required fields.

6)       Enter Discount Days and Discount Percent to offer a discount for early payment.  (If applicable).

7)       Select the OK button to accept the changes and close the Terms Setup window.  To discard the term you were adding, select the Close button (instead of the OK button) to discard the changes and close the Terms Setup window.

Note:  You must enter a Term Name and Days Due.

To Edit a Term:

1)       Select Sales/Receivables.

2)       Select the AR Defaults button.  The Accounts Receivable Defaults window appears.

3)       Select the Terms tab in the Accounts Receivable Defaults window.

4)       Double click the Term to edit.  The Terms Setup window appears with the selected term.

5)       Make the desired edits to the term.

6)       Select the OK button to accept the changes and close the Terms Setup window.  To discard the edits made select the Close button (instead of the OK button) to discard the edits and close the Terms Setup window.

To Delete a Term:

1)       Select Sales/Receivables.

2)       Select the AR Defaults button.  The Accounts Receivable Defaults window appears.

3)       Select the Terms tab in the Accounts Receivable Defaults window.

4)       Double click the Term to delete.  The Terms Setup window appears with the selected term.

5)       Select the Delete button to delete the selected term, and close the Terms Setup window.  To abort deleting the selected term select the OK or Close button (instead of the Delete button) to abort deleting the selected term and close the Terms Setup window.

Click Here To Go Back To List of Most Frequently Asked Support Questions