Payment Terms - This is an extract out the V352 SP4 Accounts Receivable manual - does it help?

Default Payment Terms

This field is split into three smaller fields which together define
default payment

terms. Set up your standard payment terms to display as a default at the
Customer

Accounts Receivable

Product Guide

1-8 SL352SP4P - Issue 1

Name and Address option. You can then change payment terms for
individual

customers.

First field

This contains a single character code which defines the type of terms to
be used.

The following codes are valid:

D - Number of days from invoice date.

M - Number of months before payment.

P - Periodic range.

For the D and M codes, leave the second field blank.

For code D you must enter the number of days in the third field in the
format DDD.

For example, for a payment of 30 days from the receipt of invoice, enter
030.

For codes P and M, the third field contains the month and the day within
that month

(MDD). For example:

A code of M ____ 210 will generate a payment date of the 10th of the 2nd
month

following the date of invoice. In this example, an invoice date of
22.04.98 would

generate a payment date of 10.06.98.

Second field (for Periodic Range only)

The second field is used with the code P to indicate your periodic
range. You are, in

effect, redefining the period in which due dates are to be calculated.

Example: Periodic Range

Terms Payment Method Spread Factor

P 2019 106 DD

This example can be explained as:

P = Periodic payments.

20 = the first day of your redefined period.

19 = the last day of your redefined period.

1 = add one month to the end of the redefined period.

06 = make the due date fall on the 6th of the added month.

This table shows 4 example invoices (using the example terms) with
calculated due

dates.

Invoice Date Invoice falls in the

redefined

current period:

Due Date

(Add 1 calendar

month to the end

of the redefined

current period)

13.05.98 20.04.98 -19.05.98 06.06.98

20.05.98 20.05.98 -19.06.98 06.07.98

19.06.98 20.05.98 - 19.06.98 06.07.98

20.06.98 20.06.98 - 19.07.98 06.08.98

Third field (Payment date)

Depends on what is entered in the first field:

Chapter 1

Maintenance

SL352SP4P - Issue 1 1-9

If D this holds the number of days in the format DDD.

If P or M holds the month and the date in the format MDD.

Examples:

A code of D ____ 030 means that the payment date is 30 days from the
invoice date.

A code of M ____ 210 means a payment will be made on the 10th of the
second

month after the month in which the invoice was sent.



Regards,



Gary Pattinson

I.T.Impact Ltd

Email: gary.pattinson@xxxxxxxxxxxxxx
<mailto:gary.pattinson@xxxxxxxxxxxxxx>

Web: www.itimpact.co.uk <http://www.itimpact.co.uk>

Mobile: 07711 485608

Office: 0844 477 8309