Payment Terms: General Area

Field/Option

Used for

Name

Enter a name for payment terms.

• It is a required field. If you do not provide a name for payment terms, you will not be able to save it.

Net terms (days)

Enter the number of days, during which the sales or purchase document will be valid.

• Recommended and most commonly used number of days in net terms is 30 days.
• It is a required field. If you do not provide net terms for payment terms, you will not be able to save it.

Use discount option

Turn on this option to activate the set of discounts added to the Discount terms tab.

Field/Option

Used for

Number

Document number is assigned automatically when you save payment terms based on the selected numerator.

Users with the appropriate permissions can override the auto-generated number and enter it manually.

After overriding the number, automated numbering will proceed in the same manner but using the manually set number as a start value.

Note

Add any notes or comments about payment terms if needed.

Inactive option

Turn off the Inactive option if you want to activate payment terms to be able to select them from the lists for the Payment terms field in various documents and directories. Turn this option on, if you want to deactivate previously active payment terms. Or, while creating new payment terms, keep this option turned on to make them inactive.

Inactive terms will not be available for selection or use and will be accessible only on the listing page of the Payment terms directory.