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WorE646

The Payment Terms Type document includes the Edit Payment Term Type tab. The system automatically enters data into both the Old and New sections in this tab. Selected data fields are available for editing.

Edit Payment Term Type tab definition

Title	Description
Payment Terms Code	Required. Enter the code used to identify this payment terms type.
Payment Terms Description	Required. Enter the familiar title of the payment terms.
Payment Terms Percent	Required. Enter the percentage discount to be applied if the payment is made by the discount date.
Discount Due Number	Required. Enter a number that reflects either the number of days or the date (day of the month) by which payment must be made to qualify for the discount percentage.
Discount Due Type Description	Required. Select 'Days' or 'Date' to indicate whether the number entered in the Vendor Discount Due Number field is a number of days or a date (defined here as a specific day of the month).
Net Due Number	Required. Enter a number that reflects either the number of days or the date (day of the month) by which payment net is due.
Net Due Type Description	Required. Select 'Days' or 'Date' to indicate whether the number entered in the Vendor Net Due Number field is a number of days or a date (defined here as a specific day of the month).
Active Indicator	Optional. Select the check box if the payment term type is active. Clear the check box to inactivate the existing payment terms code.