Creating Customer Terms

 
The following type of customer terms are available for configuration as needed and can be assigned to the selected customer account within the AR | Customer File | Accounting tab.
 
This demonstration will create a new customer invoice term called 2% 10 net 30 days.  This customer term allows a discount of 2% off current invoices due if paid by the 10th day of the month or in 10 days of the invoice date, and net is due on the 30th day of the month or in 30 days of the invoice date.  If payment is not received by the 30th or in 30 days of the invoice date, interest will start to accumulate on any unpaid balance if the individual account is set up to charge finance charges. Note, at the bottom of the Invoice Terms screen, in order to get these terms, the purchase must be above $100.00.
 
  • Select System | Support Files | Customer Terms
  • Select New from the Customer Invoice Terms Screen
  • In Type Terms select Standard AR  from the pick list
  • In the Description field type "2% 10 NET 30 DAYS"
  • In Net Due, enter "30" in the Days or Date field
  • In Payment Discount, enter "10" in the Days or Date field and "2" in the Percent Discount field
  • In Minimum Purchase, enter "100.00"
  • Select OK
 
The finished process will look like this in the Properties tab.
 
Note: A special feature allows for you to enter the number "99" in the Payment Discount Days and this will make it so that the customer can still receive their discounts even when past due on their payments. 99 will make the Due Date become 01/01/2100. 
...and the List tab will look like this.
 
 
From AR | Customer File | Accounting for a customer, select the Edit button and click on the Terms field pick list.  Select the 2% 10 NET 30 DAYS from the displayed list and click on the Save button to make this the terms for this customer.