Customer and Supplier Payment Terms

Payment terms allow you to define any number of ways of calculating the settlement dates and terms for transactions. These include the due date for payment, the dates on which payment documents should be printed, and discount due dates and percentages.

You can attach a set of payment terms to a customer or supplier to apply to all of their transactions. You can also override the customer or supplier terms on individual transactions.

The transaction payment terms details are used by Payment Run and Payment Collection Run to select transactions due for payment, and determine whether or not discounts apply.

See also What are Payment Terms? in the Business Unit Administrator Guide / Help.