Split terms

Split terms are used to define the net due date and discount date as a specific day of the month, depending on the invoice date. Split terms can divide a month into five segments, each having a unique net due date and discount date.

Assume this structure for the split terms code:

Invoice Date Range Discount On Due On Months Forward
28 - 7 9 15
8 - 12 14

20

13 - 18 19 End of Month
19 - 27 3 10 1

The entire range of invoiced dates can only include two overlapping months. You can calculate the ending day of the range from the beginning day of the next range:

Invoice Date Discount Date Due Date
January 2 January 9 January 15
January 8 January 14 January 20
January 15 January 19 January 31
January 22 February 3 February 10
January 28 February 9 February 15