Ideal Online Documentation

24717 A/P MAINTENANCE
AP4-07 Terms Code

 

PURPOSE

 

Terms code maintenance is used to add, modify and delete your payment terms codes.

 

A terms code is used to calculate discount, discount dates and due dates. Different codes can be set up to accommodate the various terms for different suppliers.

 

A terms code is later referenced on each supplier file. Upon entering invoices for a supplier the system will read the terms code and calculate the due date and the discount and discount date, if applicable, for that invoice.

 

Terms Code Maintenance is accessed from:

  • Accounts Payable Maintenance menu

 

PROCEDURE

 

Select Terms Code Maintenance from the Accounts Payable Maintenance menu.

 

A/P TERMS CODE MAINTENANCE SCREEN

┌────────────────────────────────────────────────────────────────────────────────┐
│04/27/07                    D E M O   C O M P A N Y                             â”‚
│                           A/P TERMS CODE MAINTENANCE                           â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│          TERMS CODE                    __                                      â”‚
│                                                                                â”‚
│       01 DESCRIPTION                                                           â”‚
│       02 DISCOUNT %                                                            â”‚
│       03 DISCOUNT DATE TYPE                                                    â”‚
│       04 DISCOUNT DAYS                                                         â”‚
│       05 DUE DATE TYPE                                                         â”‚
│       06 DUE DAYS                                                              â”‚
│       07 RONA CODE                                                             â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
└────────────────────────────────────────────────────────────────────────────────┘
TERMS CODE

 

Enter the terms code you wish to access or add.

 

Up to 2 digit alpha/numeric code used to identify each different set of payment terms; this code is later also referenced on your supplier master file.

 

If you enter a code which is not in the system you will be prompted whether or not you wish to add a new code. If you enter an existing code you will be prompted whether or not you wish to modify or delete it.

 

 


ADD A CODE

 

If you enter a code which is not in the system you are prompted whether or not you wish to add a new code.

 

If you enter a code which is not defined the following prompt displays.

 

** NOT ON FILE. DO YOU WANT TO ADD ? (CR=YES/F2=NO):

 

[Enter] to add a new code.

 

The program will step you through each field (see FIELDS below). Once all fields have been entered, the following prompt is displayed:

 

 

** OK TO UPDATE? (CR TO UPDATE; F2 TO MODIFY; F4 TO BYPASS):

 

[Enter] to accept and update.

 

[F2] to modify.

 

See MODIFY AN EXISTING CODE below.

 

 

[F4] to not add the code and return to CODE field.

 

[F2] to not add a new code.

 

You may enter a different NEW code, an existing code or press [F4] to exit.

 

 

 

 

MODIFY A CODE

 

If you enter an existing code you will be prompted whether or not you wish to modify or delete it.

 

If you enter an existing code you will be prompted whether or not you wish to modify or delete the code.

 

** 'M' TO MODIFY; 'D' TO DELETE; CR TO CONTINUE:

 

[Enter] to clear the display and return to the CODE field.

 

"M" to modify data fields.

 

** FIELD NUMBER (CR TO CONTINUE):

 

Enter the number of the field you wish to modify.

 

Once you have modified the field data (see FIELDS below) press [Enter] to return to this prompt where you may enter the number of additional fields to modify or press [Enter] again to end modifications.

 

 

[Enter] for modifications complete.

 

** OK TO UPDATE? (CR TO UPDATE; F2 TO MODIFY; F4 TO BYPASS):

 

[Enter] to accept changes and update the file.

 

The file is updated and you are returned to the CODE field.

 

 

[F2] to make additional modifications to the fields.

 

You are returned to the FIELD NUMBER prompt above.

 

 

[F4] to cancel all changes and return to CODE field.

 

"D" to delete the code.

 

** OK TO DELETE? (Y/N):

 

"Y" to delete the code.

 

"N" to not delete the code.

 

 

FIELDS

 

DESCRIPTION

 

Enter up to 20 character alpha/numeric description for the terms code.

 

eg: 2% 10, net 30, etc.

 

 

DISCOUNT

 

Enter the discount percentage associated with these terms.

 

eg: 2, the system will read this value as a percentage.

 

 

[Enter] to bypass if none.

 

DISCOUNT DATE TYPE

 

Enter the discount date type.

 

The program currently recognizes the following discount date types:

 

I = number of days + invoice date

F = number of days into following month from the invoice date

 

If a discount is offered for payment within 10 days, the code here should be "I" and in the next field (Discount Days) you would enter 10. However, if there is a discount providing the invoice is paid by the 15th of the following month, then the code here should be "F" and in the next field (Discount Days) you would enter 15.

 

 

DISCOUNT DAYS

 

Enter the number of days within which payment is required to obtain the discount.

 

The program uses this number together with the discount code to calculate the discount date for this invoice; if no discount applies, discount days should be the same as due date days.

 


DUE DATE TYPE

 

Enter the due date type.

 

The program currently recognizes the following due date types:

 

I = number of days + invoice date

F = number of days into following month

 

If an invoice is payable in 30 days, you would enter "I" here and in the next field (Due Date Days) 30. However, If an invoice is due by the 15th of the following month, you would enter "F" here and in the next field (Due Date Days) you would enter 15.

 

 

DUE DATE DAYS

 

Enter the number of days allowed for payment.

 

The program uses this number together with the due date type to calculate the due date for this invoice.