Payment Terms Management
OBJECTIVE
The Payment Terms Management function is used to enter a predetermined number of days for the payment of the supplier invoices.
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This date determines the due date when entering the supplier's invoice based on the actual date. A payment term can be entered in project purchases, orders, sub-contracts, purchases from service calls and purchase order invoicing. A default payment term can be entered in Configuration or in Supplier Management. |
Steps
| maestro* > Purchasing > Maintenance > Supplier > Payment Terms Management |
Creating a payment term
- Enter the required information:
The Configuration icon is used to define entry options for the Code field.
Fields followed by the * character are mandatory fields.
Two settings are available in this screen. Choose only one method, either the method with a Number of Days or with a Day and Number of Months.
Field
Description
Payment Terms*
Code for the term created.
NOTE: The system can assign this number automatically when the transaction is saved.
French Description
French description of the payment term.
English Description
English description of the payment term.
Number of Days
Used to enter the number of days to be calculated from the transaction date to determine the due date of the invoice.
NOTE: 1st method: For example, for a term of 30 days, an invoice dated August 13 will be due on September 12.
Day
Date of the day on which the transaction is payable.
NOTE: 2nd method: For example, 15th day, Month 0 for the current month, an invoice dated August 14, the due date is August 15, whereas an invoice dated August 16 is payable on September 15 or the 15th day, Month 1 for the next month, for an invoice dated August 14, the due date is September 15.
Number of Months
Month in which the transaction is payable.
- Click Save.
See also