Maintain Terms

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Introduction

Credit Terms use to calculate the due date for the documents like sales invoice, cash sales, sales debit note, purchase invoice, cash purchase, and purchase debit note.
Maintain Terms-Browse.jpg


Create New Terms

Screenshot below is the Terms entry form.
Maintain Terms-EntryForm.jpg
Field Name Explanation & Properties
Code
  • Input the new terms code
  • Field type : Alphanumerical
  • Length : 10
Description
  • Input the Terms description
  • Field type : Alphanumerical
  • Length : 80


Term Types

You have to select an appropriate term type. It has an impact on the due date calculated.
There are 3 types of terms:
  1. Due in number of days
  2. Due on specific day of the month
  3. Due in the month end
Maintain Terms-Types.jpg


Due in number of days

Maintain Terms-Types1.jpg
Terms Doc Date Due Date
90 02/01/2013 02/04/2013
90 15/02/2013 16/05/2013


Due on specific day of the month

Maintain Terms-Types2.jpg
Terms Doc Date Due Date
90 02/01/2013 30/03/2013
90 15/02/2013 30/04/2013


Due in the month end

Maintain Terms-Types3.jpg
Terms Doc Date Due Date
90 02/01/2013 30/04/2013
90 15/02/2013 31/05/2013