Maintain Payment Terms data

Specify a payment term. You can specify payment term codes in Tax Engine based on your company’s existing policies on payables and receivables transactions. This field is mandatory.

Provide a description for the payment term.

Search and select a payment schedule header. Click OK. This field is mandatory.

Payment schedule header is the agreement between your company and your customer on the amounts that must be paid by payment period.

See Payment Schedule Headers data.

Search and select a financial tax code. Click OK.

Specify the approximate period of time, expressed in days, to collect payment from Customer or to make payment to Supplier.