Split term

Split terms define the net due date and discount date as a specific day of the month, depending on the invoice date. Split terms can divide a month into five segments, each having a unique net due date and discount date. Assume this structure for the split terms code:

Invoice Date Range Discount On Due On Months Forward
28 - 7 9 15
8 - 12 14 20
13 - 18 19 End of Month
19 - 27 3 10 1

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.

Invoice Date Discount Date Due Date
January 2 January 9 January 15
January 8 January 14 January 20
January 15 January 19 January 31
January 22 February 3 February 10
January 28 February 9 February 15

Difference between prox and split terms

You can define specific days of the month as the net due date and optional discount dates with both split and prox terms. Split terms have the added ability to split a month into five segments, each having a unique net due date and discount date.

The key difference is the number of due dates during the month. Use Prox terms to limit the number of due dates to one per month. Use split terms to have more than one net due date each month.