SA Table Code Value Setup - Terms overview

System Administrator > Setup > Table Code Value

Use the Terms table to set up the payment terms that you offer your customers. These terms are assigned to customers and ship tos in Customer Setup and Customer Ship To Setup.

Each customer carries a default payment terms code that describes the basic guidelines for discount, discount date calculation, and due date calculation. You can specify this information for each customer on the Customer Setup record and for each ship to on the Customer Ship To Setup record. It is important to be able to offer a variety of payment terms, so set up an applicable variety.

During invoice processing, terms are checked and these items are calculated:

  • Any applicable discount and the date through which the discount is offered (Discount % and Date).
  • The date by which remittance must be made in order to avoid service charges and possible credit ramifications (Due Date).
  • Whether the invoice can be split into several payments, each with a different due date (Split Payments).
  • Whether the cash discount can be overridden through Price and Discounting or Sales Order Entry.