Creating and maintaining payment conditions
Menu path
System ➔ General ➔ Countries ➔ Payment conditions
Introduction
Payment conditions define how a payment is supposed to be
settled, whether a surcharge is imposed for the late payment or a discount is given
for an early settlement, and also the period to settle the payment. They are
important as payment conditions are reflected in sales and purchase orders, as
well as invoices.
Description
The due date for the payment condition can be calculated in
various ways. At the Due date calculation type field
in the Payment conditions screen, there are nine options available for
selection.
The following are the calculation examples for each option:
-
Date + payment term
Consider the invoice date as 16 May 2005. In the Details screen, Number
of days is set to 10.
Calculation:
Add 10 days from 16 May 2005.
16 May 2005 + 10 days -> 26 May 2005.
Therefore, the due date for payment is 26 May 2005.
To set the number of days for the Date + payment term calculation
type, under the Terms tab, click 
and the Details screen will be displayed. The number
of days can be defined at Number of days.
- Date + payment term -> end of the month -> day
of the month
Consider the invoice date as 16 May 2005. In the Details screen, the Number
of days is set to 8 while the Days to end of month is set to 10. Days
to end of month is an additional field in the Details screen for
this due date calculation type.
Calculation:
Add 8 days from the invoice date.
16 May 2005 + 8 days -> 24 May 2005
End of the month -> 31 May 2005
Add 10 days to the end of the month.
31 May 2005 + 10 days -> 10 June
2005
Therefore, the due date for payment will be 10 June 2005.
- Date + payment term -> end
of the next month -> day of the month
Consider the invoice date as 16 May
2005. In the Details screen, the Number of days is set to 8 while
the Days to next month is set to 10.
Calculation:
Add 8 days from the invoice date.
16
May 2005 + 8 days -> 24 May 2005
End of the next month -> 30 June 2005
Add 10 days to the result.
30 June 2005 + 10 days -> 10 July 2005
Therefore, the due date for payment will be 10
July 2005.
- Date + payment term -> x.end of the month ->
day of the month
Consider the invoice date as 16 May 2005. In the Details screen, the Number
of days to invoice date is set to 10, Number of times end of month is
set to 3, and the Period due date is set to 2 days.
Calculation:
Add 10 days from the invoice date.
16 May 2005 + 10 days ->
26 May 2005
3 times end of the month.
First time end of the month from 26 May 2005 -> 31 May 2005
Second time end of the month -> 30 June 2005
Third time end of the
month -> 31 July 2005
Add 2 days to the result.
31 July 2005 + 2 days -> 2 August 2005
Therefore, the due date for payment will be 2 August 2005.
- Date + payment term (in months)
Consider the invoice date as 16 May 2005. In the Details screen, Months
to due date is set to 4.
Calculation:
Add 4 months from the invoice date.
16 May 2005 + 4 months -> 16 September 2005
Therefore, the due date for payment will be 16 September 2005.
- Date -> end of the month + x months
Consider the invoice date as 16 May 2005. In the Details screen, the Months
to due date is set to 2.
Calculation:
End of the month from the invoice date -> 31 May 2005
Add 2 months to the result.
31 May 2005 + 2
months -> 31 July 2005
Therefore, the due date for payment will be 31 July 2005.
- Date + payment term (no recalculation)
Consider an invoice which is created on 16 May 2005 and the number of days is
set to 10.
Since the invoice is created on
16 May 2005, the Transaction date is 16 May 2005. With a payment
condition that is based on the due date calculation type of Date + payment
term (no recalculation), no recalculation of payment due date is allowed by
manually changing the Invoice date when you print the invoice.
Therefore, the due date will
always be 26 May 2005 regardless of manual adjustments to the Invoice date
(the date the invoice is printed).
- Order date + payment term
Payment due date is calculated based on the number of days from the
order date.
- Order confirmation date + payment
term
Payment due date is calculated based on the number of days from the order
confirmation date.
What version are you using?
The information in this document is applicable to product
update 407 and higher. If you have versions lower than this, certain features
explained here will not be applicable.
How do I create a payment condition?
- In
the main screen, create New. The Payment conditions screen will
be displayed.
- Define
the relevant fields.
- Click
Save.
- Click
Close.
Keep in mind: All fields with the “!” icon are
mandatory.
How do I edit an existing payment condition?
- In
the main screen, select the required payment condition and click Open.
- The
Payment conditions screen will be displayed.
- Define
the relevant fields.
- Click
Save.
- Click
Close to return to the main payment conditions screen.
Keep in mind: All fields with the “!” icon are
mandatory.
Fields
Payment condition
Type a unique payment condition code for the new payment condition.
Description
Type a short description for the payment condition.
Due date calculation type
Select the due date calculation type for the payment condition. There
are nine options available which include:
-
Date + payment term
-
Date + payment term -> end of the month -> day of the
month
-
Date + payment term -> end of the next month -> day of
the month
-
Date + payment term -> x.end of the next month -> day of
the month
-
Date + payment term (in months)
-
Date -> end of the next month -> x months
-
Date + payment term (no recalculation)
-
Order date + payment term
-
Order confirmation date + payment term
For more information
how each calculation type is formulated, see Description.
Discount/Surcharge
Select
Settlement discount or
Credit surcharge to
indicate whether the payment condition concerns a settlement discount or a
credit surcharge. A settlement discount is a discount which you will receive if
you pay within an agreed period while a credit surcharge is additional payment
charged for late payment.
Number of days
Type the number of days for which the settlement discount is given if
the payment is made within the specified number of days.
Note: You can define the number of days for the settlement
discount only.
Perc.
Type the percentage of settlement discount or credit
surcharge.
Item group
Type or click the
Browse icon to
select the item group to which the payment condition is linked. You can create
item groups at System ➔ Logistics ➔ Item groups.
Calculation tab
Example : Invoice date
Type or select the example of the invoice date to be
displayed for the formula used for the payment condition calculation.
Foreign languages tab
Description NL
Type the description of the payment condition in Dutch at
this field.
Description FR
Type the description of the payment condition in French at
this field.
Description ES
Type the description of the payment condition in Spanish at
this field.
Description DE
Type the description of the payment condition in German at
this field.
Note: You can type the description of a payment
condition in a maximum of five languages. These languages are set in System ➔ General ➔ Settings ➔ General settings, under
Descriptions
in list boxes.
Details screen
Percentage
Type the percentage of the total amount of payment to be settled within
the defined
Number of days from the invoice date.
Number of days
Type the number of days to settle the payment.
Cash instrument
Type or select your cash instrument that handles the payment.
Payment method
Select the payment method from the options available:
On credit,
Cash,
Credit card,
Cheque,
Letter of credit,
Collection,
EFT,
and
Post dated cheque.
Note: The
Details screen is only visible after you have
filled
Payment condition,
Description, and
Item group in
the
Payment conditions screen. The
Details screen for other due
date calculation types will be similar except for additional fields depending
on the types.
Buttons
Save
Click this to save all the details of the payment condition.
New
Click this to define new details for the payment condition.
Close
Click this to exit.
Details screen
Save
Click this to save all the details of the payment term.
New
Click this to define new details for the payment term.
Close
Click this to exit.
Icons
Terms tab
Add icon
Click this to create a payment term. This function allows
you to specify details of the payment term such as the percentage of payment to
be made or percentage of discounts, payment period, cash instrument to be used,
and the payment method.
Edit icon
Click this to edit details of a selected payment term.
Delete icon
Click this to delete a selected payment term.
Related documents
| Main Category: |
Attachments & notes |
Document Type: |
Online help main |
| Category: |
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Security level: |
All - 0 |
| Sub category: |
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Document ID: |
12.338.661 |
| Assortment: |
Exact Globe+
|
Date: |
26-09-2022 |
| Release: |
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Attachment: |
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| Disclaimer |