Creating and maintaining payment terms for purchase orders
Menu path
Purchase ➔ Entries ➔ Purchase orders
Introduction
This screen allows you to define the payment conditions for the purchase orders.
What version are you using?
The information in this document is based on product update 405.
How do I create and maintain payment terms for purchase orders?
- In the Purchases screen, define the search criteria.
- Click Search.
- Select the required purchase order.
- Click Open.
- Click Conditions.
- Under the Payment data section, click
Edit.
- Define the fields.
- Click Save.
Keep in mind: In the Purchase invoice screen, click Advanced to expand the search criteria.
How do I view all the payment terms for the purchase orders?
- In the Purchases screen, define the search criteria.
- Click Search.
- Select the required purchase order.
- Click Open.
- Click Conditions.
- Under the Payment data section, click
Edit.
- Click All.
How do I view the previous payment terms for the purchase orders?
- In the Purchases screen, define the search criteria.
- Click Search.
- Select the required purchase order.
- Click Open.
- Click Conditions.
- Under the Payment data section, click
Edit.
- Click Previous.
How do I view the next payment terms for the purchase orders?
- In the Purchases screen, define the search criteria.
- Click Search.
- Select the required purchase order.
- Click Open.
- Click Conditions.
- Under the Payment data section, click
Edit.
- Click Next.
How do I split the payment terms for the purchase orders?
- In the Purchases screen, define the search criteria.
- Click Search.
- Select the required purchase order.
- Click Open.
- Click Conditions.
- Under the Payment data section, click
Edit.
- Click Split.
Fields
Due
Type or select the due date for the payment term. By default, the due date of the payment term in the purchase order is pre-filled based on the selected payment condition. The number of days for the payment term is automatically displayed beside the Payment date field.
Payment date
Type or select the date the payment is made for the payment term. The payment date refers to the payment processing date. By default, it is two days before the due date. However, the number of days before the due date is defined at System à General à Settings, under Bank settings in the Payment date calculation section.
%
Type the percentage of payment for the payment term. By default, the percentage displayed is based on the payment percentage in the payment condition(s) in the purchase order condition screen.
Amount
Type the amount of the payment term. By default, the amount displayed is 100 percent of the purchase order total amount.
Cur.
The currency used for the payment is displayed. By default, the currency used by the supplier as defined in the account maintenance under the Financial tab is displayed. If the currency is not defined for the supplier, then the default currency defined at System à General à Settings, under General setting is displayed. This information cannot be edited but it is possible to change the currency of the payment term by selecting a new currency at Currency field under the Payment data section, in the Conditions screen of the purchase order entry.
Days
Type the number of days for early payment discount entitlement quoted by the supplier. For example, if you type “10” then payment made within 10 days will be entitled for discount. By default, “0” is displayed.
Discount
Type the discount amount entitled for early payment quoted by the supplier. For example, if Days is “10” and the discount is $100, you will be entitled to a discount of $100 for settling the payment within 10 days. By default, “0” is displayed.
Note: This field is enabled only if Days is greater than zero.
Cash instrument
Type or select the bank account where the payment for the payment term will be paid from. By default, the bank account displayed is based on the Account number bank defined at System à General à Settings, under Company data settings in the Numbers section. You can create bank accounts at Cash flow à Cash instruments à Maintain.
IBAN
The IBAN code is displayed for the cash instrument of your bank account.
BIC code
The BIC code is displayed for the cash instrument of your bank account.
Method
Select the payment method being used for the payment term. This can be Cash, Cheque, Collection, Credit card, EFT, Letter of credit, On credit, or Post dated cheque. By default, On credit is selected.
Creditor
Type or select the creditor whom you would make the payment to. By default, the creditor specified in the purchase order is pre-filled.
Address
By default, the creditor’s address as defined in the creditor maintenance at Finance à Accounts payable à Maintain or CRM à Maintain à Accounts under the Basics tab is displayed. You may type a different address of the creditor whom you make payment to.
Postcode
By default, the postcode of the creditor’s address as defined in the creditor maintenance at Finance à Accounts payable à Maintain or CRM à Maintain à Accounts under the Basics tab is displayed. You may type a different postcode of the creditor whom you make the payment to.
City
By default, of the creditor’s address as defined in the creditor maintenance at Finance à Accounts payable à Maintain or CRM à Maintain à Accounts under the Basics tab is displayed. You may type a different city of the creditor you make the payment to.
To Cash instrument
Type or select the creditor’s bank account. By default, the creditor’s bank account as defined in the creditor maintenance at Finance à Accounts payable à Maintain or CRM à Maintain à Accounts under the Financial tab is displayed.
IBAN
The IBAN code is displayed for the cash instrument of the bank account of the creditor.
BIC code
The BIC code is displayed for the cash instrument of the bank account of the creditor.
Description
Type the description to the payment term.
Payment reference
Type the payment reference of the payment term being defined. By default, the purchase order number is displayed.
Blocked
Select this check box to block the selected payment term whereby the payment term cannot be processed at Cash flow à Payments à Process.
Urgent
Select this check box if the payment is urgent. If the invoice term is split, or manually matched and written-off to create a balance term, the Urgent status will be copied to the additional created term or balance term.
Note: This check box is available only if you have selected the SEPA credit transfer check box in the Cash instruments screen under the Settings tab in the SEPA credit transfer section (at Cash flow à Cash instruments à Maintain and click New).
Notes
Click 
Note to add notes to the payment term. For more information, see Creating and maintaining notes.
Buttons
Note: You may not see all the buttons. The All, Previous, and Next buttons are enabled when you split the payment term or when you specify less than 100% in the % (percentage) field.
All
Click this to view all the payment terms of the selected purchase order.
Note: This button is available only if there is more than one payment term.
Advanced/Simple
Click Advanced to display more criteria. Click Simple to hide the criteria.
Previous
Click this to display the previous payment term.
Note: This button is available only if there is more than one payment term.
Next
Click this to display the next payment term.
Note: This button is available only if there is more than one payment term.
Split
Click this if you want the selected payment term to be divided into two equal parts. For example, if the Percentage of the payment term is “10%” and you click Split, the payment term will become two payment terms of 5% (whereby Percentage is “5%”).
Save
Click this to save the changes made to the payment terms.
Close
Click this to exit.
Related documents
| Main Category: |
Attachments & notes |
Document Type: |
Support - On-line help |
| Category: |
|
Security level: |
All - 0 |
| Sub category: |
|
Document ID: |
13.017.316 |
| Assortment: |
Exact Globe+
|
Date: |
26-09-2022 |
| Release: |
405 |
Attachment: |
|
| Disclaimer |