Creating split term payments

  1. Select Financials > Receivables > Setup > Payment Terms > Payment Terms.
  2. Click Create.
  3. Specify the Payment Terms and its Description.
  4. In the Terms Type field, select Split.
  5. On the Split tab, specify this information:
    From
    Specify up to five day ranges. Specify only the beginning days for the ranges. The ending days are calculated.
    Discount On
    To specify a discount day for the day range, specify up to five days and specify an amount in the Discount Percent field.
    Due On
    Specify a number for a due date that is a specific day of the month. For example, specify 1 for January, 2 for February, and 3 for March.
    End Of Month
    Select this check box if the due date is the end of the month.
    Months Forward
    If the due date falls in a different month than the invoice date, then specify up to five months forward.
    Discount Percent
    Specify the discount percent.
    Net Due Days
    Specify the number of days to add to the invoice date to calculate the invoice due date.
    Anticipation
    Select this check box if invoices that are assigned this split terms code are eligible for anticipation discount. If this check box is selected, then an anticipation discount percent must be defined at the company level.
  6. Click Save.
  7. Optionally, you can test a term code using a sample invoice date and amount on the Preview tab.