IdealWare Online Users Manual

AR4-07 A/R MAINTENANCE
25654 Payment Terms Code

 

PURPOSE

 

The payment terms code maintenance program is used to add, modify and delete payment terms codes. A payment terms code is referenced for each customer.

 

A payment terms code represents the payment terms/discount information that a customer will receive for invoices generated through the sales order entry program. Payment terms information includes discount date and discount percentage. Applicable discounts are received when payment is posted via the cash receipts posting program.

 

Payment Terms Code Maintenanc is accessed from:

  • A/R Maintenance menu

 

PROCEDURE

 

When you select Payment Terms Code Maintenance at the Accounts Receivable Maintenance menu the A/R payment terms code maintenance screen displays.

 

A/R PAYMENT TERMS CODE MAINTENANCE DISPLAY

┌────────────────────────────────────────────────────────────────────────────────┐
│06/15/07                    D E M O   C O M P A N Y                             â”‚
│                       A/R PAYMENT TERMS CODE MAINTENANCE                       â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│          TERMS CODE                    __                                      â”‚
│                                                                                â”‚
│       01 DESCRIPTION                                                           â”‚
│       02 DISCOUNT %                                                            â”‚
│       03 DISCOUNT DAYS TYPE                                                    â”‚
│       04 DISCOUNT DAYS                                                         â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
└────────────────────────────────────────────────────────────────────────────────┘

 

TERMS CODE

 

Enter the code of the terms you wish to add, modify or delete.

 

To add a new code see ADD A CODE. To modify or delete an existing code see MODIFY AN EXISTING CODE.

 

 

[F2] to display next terms code on file.

 

[F4] to exit and return to the A/R maintenance menu.

 

[F5] to display terms codes for selection.

 


ADD A 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 AN EXISTING CODE

 

If you enter an existing code the following prompt is displayed.

 

** ENTER FIELD # TO MODIFY, D=DELETE, CR=CONTINUE:

 

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

 

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] when modifications are complete.

 

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

 

[Enter] to accept changes and update.

 

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

 

 

[F2] to make additional modifications.

 

You are returned to the FIELD NUMBER prompt above.

 

 

[F4] to cancel 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.

 

Example A/R Payment Terms Code Maintenance display:

┌────────────────────────────────────────────────────────────────────────────────┐
│06/16/07                    D E M O   C O M P A N Y                             â”‚
│                       A/R PAYMENT TERMS CODE MAINTENANCE                       â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│          TERMS CODE                    1                                       â”‚
│                                                                                â”‚
│       01 DESCRIPTION                   NET 15TH                                â”‚
│       02 DISCOUNT %                     0.00                                   â”‚
│       03 DISCOUNT DAYS TYPE            F DAYS INTO FOLLOWING MONTH             â”‚
│       04 DISCOUNT DAYS                 15                                      â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│** FIELD NUMBER TO MODIFY; 'D' TO DELETE; CR TO CONTINUE:  _                    â”‚
│                                                                                â”‚
└────────────────────────────────────────────────────────────────────────────────┘

 

FIELDS

 

TERMS CODE

 

Enter a two character payment terms code.

 

[F2] to display next terms code on file.

 

[F4] to exit and return to the A/R maintenance menu.

 

[F5] to display terms codes for selection.

 

DESCRIPTION

 

Enter an up to 20 character description.

 

DISCOUNT %

 

Enter the percentage of discount associated with this set of terms.

 

[Enter] for zero discount.

 

DISCOUNT DAYS TYPE

 

This indicates whether the discount is applicable a certain number of days after the date of the invoice or a certain number of days into the following month.

 

"I" for number of days + invoice date.

 

"F" for number of days into following month.

 

For example, if an invoice receives a discount if paid within 30 days of the invoice date you would enter "I" here and "30" at discount days. If an invoice receives a discount if paid by the 15th of the following month, you would enter "F" here and "15" at discount days.

 


DISCOUNT DAYS

 

Enter the number of days to receive discount.

 

This is the maximum number of days after invoice date or into the following month that a discount will be received. In other words, this is the date on or before which payment must be posted in order to receive a discount.