Payment Terms (PYT)

The payment terms header details identify the payment terms and appear when you select the Payment Terms form (PYT).

Specify this information:

Payment Terms Group Code

The code identifying a set of payment terms.

Short Heading

Description

Lookup Code

Document 1-4 Description

These enable you to make a note of the document you want to produce on each of the four available document dates, if you are calculating these dates as part of the payment terms. For example, if you are calculating as Document Date 1 the date the first debt chasing letter would be required for the transaction, you could enter a description of First Reminder Letter Due.

Scheduled Payments Code

The code identifying a Scheduled Payments record to be used with this set of payment terms. The code you select must already be defined using Scheduled Payments Setup (SCH). Leave blank if you do not want to assign scheduled payments to this set of payment terms.
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