Defining prox terms

Use prox terms to establish a net due date for all invoices generated during a defined period. For example, paying all invoices due on or before the 25th of the month. This procedure outlines the process for defining prox terms.

Define prox terms

  1. Access the Prox tab on Maintenance (TE01.2).
  2. Specify a term code and description, and define the prox terms for that code. Complete these fields to specify a prox term with no special net due options or discounts.
    Invoice Cutoff Day

    Specify the cutoff day that should be used to determine in which month an invoice should come due. Any invoice date equal to or before this day will have a net due date that is equal to the prox day in the following month. Any invoice date that falls after the cutoff day will have a net due date two months out on the prox day.

    Prox Day

    Define the day of the month used to calculate the discount date and due date. If you define a Net Due Date or Days, this field is used to calculate the discount date only.

    Preview Button

    Click the preview button to test a term code using a sample invoice date and amount.

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