Difference between revisions of "4 Terms"
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Simon Clive (Talk | contribs) (Created page with "New Terms Can you create New Terms and also create the definition of the term? Select General Tab You can also create a new Term by selecting Terms from the Accounts Menu on t...") |
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| − | New Terms | + | Can you create '''New Terms''' and also create the definition of the term? |
| − | + | *Select the '''General''' Module and select '''Terms List''' | |
| + | *Select '''New''' button at the bottom of the screen | ||
| + | *You can also create a new '''Term''' by selecting Terms from the '''General''' Menu on the '''Top Tool Bar'''. <br> | ||
| + | *In the '''Term''' window you can start by entering the'''Name''' and a '''Description''' for the Term. | ||
| + | *In the '''Number of Days after Invoice Date''' field, enter the number of '''Days''' after the Invoice date that the Invoice will be due '''E.g. 21 Days.''' | ||
| + | *If you would like the '''Invoice''' to be due at the '''end of the current month''' regardless of the invoice date, tick the first '''EOM''' tick box and make sure the '''Days''' field is empty. | ||
| + | *If you would like the '''Invoice''' to be due on a '''certain date in the next month''', you would need to tick the first '''EOM''' tick box and enter the number of days in the '''Days''' field '''E.g''' enter 20 days for invoices to be due on the 20th day of the following month. | ||
| − | + | '''N.B.''' both the '''Days''' fields will be populated with the same value, please make sure neither of these are removed. | |
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| − | + | *If you would like the '''Invoice''' to be due at the '''end of the next month''' regardless of the invoice date, tick both the first and second '''EOM''' tick box's and make sure the '''Days''' fields are empty. | |
| + | *If you would like the '''Invoice''' to be due on a '''certain date after the next month''', you would need to tick the first and second '''EOM''' tick boxes and enter the number of days in the '''Days''' field | ||
| + | *'''E.g.''' enter '''20 Days''' for invoices to be due on the '''20th Day''' of the '''2nd Month''' following the invoice date this would mean an '''Invoice''' dated 10th Oct would be due on the 20th December. | ||
| + | *Enter a % discount into the '''Early Payment Discount (%)''' field if you wish to offer your Customers a discount for early payment, '''E.g.''' A 5% discount will be available to all Customers on a 21 Day Term that pay before the due date. <br> | ||
| + | *Selecting the '''New''' Term button at the bottom of the '''Term''' screen will save the Term you have just created and open a new Term screen ready to create another term. | ||
| + | *The '''Active''' check box is automatically ticked upon creating a new term and can be un ticked to make a Term Inactive. | ||
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| − | + | Do you know how to view the List of existing Terms within ERP? | |
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| − | + | Select the General tab Select Terms List This brings up the list of terms | |
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| − | + | How does the terms effect the aging of Invoices, Purchase Orders and Statements? | |
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| − | + | Depending on the customer terms, the ageing date will appear on the statements accordingly and will show what is payable in the Days outside Trading Terms. ie. 1-30, 30-60, 60-90, >90 days | |
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| − | Depending on the customer terms, the ageing date will appear on the statements accordingly and will show what is payable in the | + | |
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Revision as of 14:08, 8 August 2011
Can you create New Terms and also create the definition of the term?
- Select the General Module and select Terms List
- Select New button at the bottom of the screen
- You can also create a new Term by selecting Terms from the General Menu on the Top Tool Bar.
- In the Term window you can start by entering theName and a Description for the Term.
- In the Number of Days after Invoice Date field, enter the number of Days after the Invoice date that the Invoice will be due E.g. 21 Days.
- If you would like the Invoice to be due at the end of the current month regardless of the invoice date, tick the first EOM tick box and make sure the Days field is empty.
- If you would like the Invoice to be due on a certain date in the next month, you would need to tick the first EOM tick box and enter the number of days in the Days field E.g enter 20 days for invoices to be due on the 20th day of the following month.
N.B. both the Days fields will be populated with the same value, please make sure neither of these are removed.
- If you would like the Invoice to be due at the end of the next month regardless of the invoice date, tick both the first and second EOM tick box's and make sure the Days fields are empty.
- If you would like the Invoice to be due on a certain date after the next month, you would need to tick the first and second EOM tick boxes and enter the number of days in the Days field
- E.g. enter 20 Days for invoices to be due on the 20th Day of the 2nd Month following the invoice date this would mean an Invoice dated 10th Oct would be due on the 20th December.
- Enter a % discount into the Early Payment Discount (%) field if you wish to offer your Customers a discount for early payment, E.g. A 5% discount will be available to all Customers on a 21 Day Term that pay before the due date.
- Selecting the New Term button at the bottom of the Term screen will save the Term you have just created and open a new Term screen ready to create another term.
- The Active check box is automatically ticked upon creating a new term and can be un ticked to make a Term Inactive.
Do you know how to view the List of existing Terms within ERP?
Select the General tab Select Terms List This brings up the list of terms
How does the terms effect the aging of Invoices, Purchase Orders and Statements?
Depending on the customer terms, the ageing date will appear on the statements accordingly and will show what is payable in the Days outside Trading Terms. ie. 1-30, 30-60, 60-90, >90 days
