Defining Split Terms

Use split terms to split monthly payments into as many as five segments. For example, due on the 7th, 14th, 21st, and 28th day of a month. With split terms, each invoice date range you define can have its own discount date and net due date. The following procedure outlines the process for defining split terms.

The entire range of invoiced dates can only include two overlapping months. The program calculates the ending day of the range from the beginning day of the next range.

To define split terms

  1. Access Maintenance (TE01.2), Split tab.
  2. Type a term code and description, and define the split terms for that code. Use the following guidelines to enter field values:
    Type

    Select Split (S).

    From

    Type up to five day ranges. You enter only the beginning days for the ranges; the system calculates the ending days.

    Discount On

    If you want a discount day for the day range, enter the day here and type an amount in the Discount Percent field.

    Due On,EOM (End of Month), orNet Due Days

    You must select a due date option in one of the three due date fields.

    • If you want the due date to be a specific day of the month, type that number in the Due On field.

    • If you want the due date to be the end of the month, select Yes in the EOM field.

    • If you want the due date to be a specified number of days past the invoice date, type that number in the Net Due Days field.

      You can use both the Due On and EOM option in the same term, but you can only use Net Due Days on its own.

    Months Forward

    If you want the due date to fall in a different month than the invoice date, type the number of months forward. For example, if an invoice dated May 15th should come due June 1st, you would select 1 month forward.

  3. Optional. To test a term code using a sample invoice date and amount. Access Preview (TE01.3).
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