Terms

Terms govern the due date of an account bill, as well as discounts for on-time payment. You might offer accounts different payment terms based on their particular situation or account type. For example, you may offer different payment terms to youth and adult carrier/dealers. Or, terms may differ for payments received monthly and payments received weekly. Terms are assigned to accounts on an individual basis during account setup (see Account).

To set up terms:

1. Select Terms from the Account Billing menu to display the Terms screen.

   
2. Click the Add icon and complete the following fields.

   Field	Type	What to enter
   TERMS	open (8)	Enter an ID for these account payment terms.
   START DATE, END DATE	date	Enter the date range during which these terms may be used.
   DISCOUNT TYPE	predefined	If there is a discount for payment with these terms, indicate the discount type: flat or percentage.
   CASH DISCOUNT	decimal (4)	Enter the discount (percent or flat amount) for payment within a time period by accounts with these terms. If you do not offer a cash discount to accounts with particular terms, do not enter any values in the related discount fields (accept the default values zero).
   DISCOUNT APPLIES TO	predefined	Indicate what this discount applies to—total, gross draw, or net draw. Total indicates account’s total current charges - total current credits; Gross includes gross draw charges; Net indicates gross draw charges - returns.
   DISCOUNT NUMBER OF DAYS	integer (3)	If discount depends on payment made within a number of days after bill date, enter the number of days here. Business Rules determine the number of days after the discount date that accounts can qualify for a discount.
   DISCOUNT DAY OF MONTH	integer (2)	If discount depends on payment made by a specified day of the month, enter that day here.
   CAN DISCOUNT PAST DUE	yes/no	Indicate whether a cash discount can be given if the account is past due at the time the bill is produced.
   DUE NUMBER DAYS	integer (3)	If payment is due within a specified number of days after the bill date, enter that number here.
   DUE DAY OF MONTH	integer (2)	If payment is due on a specified day of the month, enter that day here.
   DESCRIPTION	open (30)	Enter a description of these terms.

3. Click OK to save the terms in the database or Add Another to save the existing record and add another terms record.