Terms Codes
OVERVIEW
The Terms Codes table provides the ability to establish specific billing terms for account payments and invoices. This enables the user to offer different billing terms to each account. Once the codes are added to the table, they can be assigned to the individual accounts. Apply a terms code to an account by selecting the applicable code in the Stm Terms field and Inv Terms field in the Accounts Record / Accounting tab.
SETUP PROCESS
Access the Terms Codes table by clicking:
TOOLS | SYSTEM TABLES | TERMS CODES
Code: Enter a unique alphanumeric Code up to 3-digits long and press Enter.
Description: Enter a description of the Terms Code.
For example, Description = 2% 10th Net 30. In this example, the bill is due within 30 days, but if paid within 10 days, a 2% discount will be applied.
See also