Purchase Order - Payment

You can specify discounts and terms of payment to be applied in the following fields. If these fields are not completed, the Payment Terms specified in the Payment Terms Code field are applied.

  1. Select Purchase Order Entry (POE).
  2. Specify this information in the Payment section:
    Payment Due Date

    The date by which payment is due to the supplier.

    Discount 1 Percentage

    Discount percentage to be applied if payment is sent to the supplier by the Discount 1 Date.

    Discount 1 Date

    Date by which payment must be made in order for the Discount 1 Percentage to be applied.

    Discount 2 Percentage

    Discount percentage to be applied if payment is sent to the supplier by the Discount 2 Date.

    Discount 2 Date

    Date by which payment must be made in order for the Discount 2 Percentage to be applied.

    Late Payment Date

    If payment has not been made by this date the Late Payment Percentage is applied as a penalty.

    Late Payment Percentage

    The percentage to be charged by the supplier as a penalty for late payment.

    Interest Date

    If payment has not been made by this date the Interest Percentage is applied as a penalty for non-payment.

    Interest Percentage

    The percentage to be charged by the supplier as a penalty for non-payment.

    Payment Terms Group Code

    The code for any payment terms to be applied as defined in the supplier record.

  3. Save your changes.