| Payment Terms (tcmcs0113s000)The Due Date Calculation Method and the Due Date Calculation Priority fields are only relevant if
the value of the Payment Period field is Days. If it is Months,
these fields are not available. Payment schedules On the appropriate menu, you can click Schedules to display the payment schedule
linked to the payment terms. If no payment schedule is linked to the payment terms, the
command is not available. To link a payment schedule to the payment terms, in the Payment Schedule Header field, zoom to the Payment Schedule Headers (tcmcs2120m000) session. You can select a payment schedule or
you can click New to define a new payment
schedule. Payment Terms Agreements about the way in which invoices are paid. The payment terms include: - The period within which invoices must be paid.
- The discount granted if an invoice is paid within a given
period
The payment terms allow you to calculate: - The date on which the payment is due
- The date on which the discount periods expire
- The discount amount
Payment Period The number of days or months that LN adds to the invoice
document date before or after calculating the due date to obtain the actual due
date. Payment Period The unit of the payment period. Allowed values You cannot select Fiscal Periods. If you select Months, LN sets the Due Date Calculation field to End of Month and the Priority for Due Date Calc. field to Not Applicable. You cannot change these fields. Period in Days The number of days after the invoice date, during which the
first discount percentage can be subtracted from the invoice amount. Period in Days The number of days after the invoice date, during which the
second discount percentage can be subtracted from the invoice amount. Allowed values The value must be higher than that of the first discount
period, because all discount periods are calculated starting at the invoice
date. Period in Days The number of days after the invoice date, during which the
third discount percentage can be subtracted from the invoice amount. Allowed values The value must be higher than that of the second discount
period, because all discount periods are calculated starting at the invoice
date. Percentage The percentage of the invoice amount that can be subtracted on
payment within the first discount period. Allowed values Zero or higher. Percentage The percentage of the invoice amount that can be subtracted on
payment within the second discount period. Allowed values Each discount percentage must be lower than the preceding
one. Percentage Percentage of the invoice amount that can be subtracted on
payment within the third discount period. Allowed values Each discount percentage must be lower than the preceding
one. Day A fixed day of the month, on which payments are due. If payment
days are specified, the calculated due date is changed into the next fixed
payment day. Note You can specify up to three fixed payment days. If you
specify more than one payment day, the first day must have the lowest value,
the second day the next value, and so on. If you do not enter a value in the preceding Day field, the
field must be zero. For months with less than 31 days, payment day 31 in effect
is the last date of the month. Due Date Calculation Method The way in which the due date is calculated. Due Date Calculation Priority Indicates how the due date is calculated if the Due Date Calculation field is End of Month. Discount Date Calculation The way the discount date is calculated. Discount Date Calculation Indicates how the discount date is calculated if the Discount Date Calculation field is End of Month. Grace Days For Due Date The number of days a payment can be overdue without the
customer receiving a reminder. If the Due Date Calculation field is End of Month, you can specify a fence. Otherwise, LN sets the Grace Days For Due Date field to zero. Grace Days for Discount Date The number of days a payment can be overdue without the
customer losing their entitlement to a discount. If the Discount Date Calculation field is End of Month, you can specify a fence. Otherwise, LN sets the Grace Days for Discount Date field to zero. Percentage The maximum percentage by which the customer can exceed the
discount stated in the payment terms. LN displays a warning message if a customer subtracts a larger discount from the
payment than is stated in the payment terms, and one or both of the following
conditions are true: - The difference between the allowed discount and the actual
discount is less than the amount in the Tolerance for Disc. Amount field.
- The difference between the allowed discount and the actual
discount in percentages is less than the percentage in the Tolerance for Disc. Percentage field.
Amount The maximum amount by which the customer can exceed the
discount stated in the payment terms. The amount is expressed in the reference currency. When you enter the receipt of the invoice amount, LN displays a warning
message if a customer subtracts a larger discount from the payment and one or
both of the following conditions are true: - The difference between the allowed discount amount and the
actual discount amount is more than the amount in the Tolerance for Disc. Amount field.
- The difference between the allowed discount and the actual
discount in percentages is more than the percentage in the Tolerance for Disc. Percentage field.
Days For the Tolerance for Discount, this field contains the
maximum number of days by which the customer can exceed the discount date. If a customer exceeds the discount period by more days than
stated here, LN displays a warning message. Days For the Tolerance for Due Date, this field contains the
maximum number of days by which the due date can be shifted backwards if the
calculated due date is a non-working day (weekend or holiday). If the first
available working day lies back further than the number of days specified for
the tolerance, the first available working day after the calculated due date
will be the actual due date. Example Holiday
period | 1 - 31 August |
---|
Last
working day before | 31 July |
---|
First working day after | 5 September |
---|
Tolerance | 5
days |
---|
If the calculated due date is: 3 August, LN shifts the actual due date back to 31 July, because the difference
between the due date and the previous available working day (3 days) is less
than the tolerance. 8 August, LN shifts the actual due date forward to 5 September, because the
difference between the due date and the previous available working day (8)
exceeds the tolerance.
Discount Including Tax If this check box is selected, the discount is
calculated over the full invoice amount including tax. This is standard in, for
example, Germany and South Africa. If this check box is cleared, the discount is calculated
over the invoice amount after subtracting the tax amount. This is standard in
the Netherlands and the U.K. Use Payment Days for Discount Calculation If this check box is selected, and at least one payment
day has been specified, the calculated last day of each discount period is
moved to the next payment day. Tax After Discount If this check box is selected, tax is calculated over
the invoice amount minus the applicable discount. This is usually done in, for
example, Great Britain. If this check box is cleared, tax is calculated over the
invoice amount before subtracting the applicable discount. This is the accepted
procedure in most other countries. Payment Terms Text If this check box is selected, a text is linked tot he
payment terms. | |