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