Creating fixed days terms

  1. Select Payables > Administration.
  2. On the Invoice Structure pane, click Payment Terms.
  3. Click Create.
  4. Specify the Payment Terms and its Description.
  5. In the Terms Type field, select Fixed Days.
  6. On the Fixed Days tab, specify this information:
    Number of Payments
    Specify the total number of payments.
    Days between Invoice And First Due Date
    Specify the number of days between the invoice date and the first due date.
    Days Between Payments
    Specify the number of days between payments.
  7. In the Fixed Payments section, specify this information:
    Days of Month
    Specify up to five fixed days that scheduled payments are due.
    Days of Week
    Specify up to two fixed days of the week that scheduled payments are due.
    Days for Adjustment
    To automatically adjust a payment due date that falls between the fixed days you have defined, specify the number of adjustment days.
  8. Click Save.
  9. Optionally, you can test a term code using a sample invoice date and amount on the Preview tab.