What Is a 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 the following 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