Setting Default Payment Terms

If you have standard payment terms that you extend to all or most of your charge customers, set them as defaults in System Controls.

To set default customer-payment terms

1. From the Setup menu, select System Controls. The System Controls screen appears.

2. Click the Customer tab.

3. Set the requirements for the default due date:

a. Select Default AR Due (D=#Days or T=Date) and press Enter.

b. If the payment is due by a specific number of days after the purchase, select Days. If the payment is due by a specific day of the month instead, select Th. Then click OK.

c. Select Default AR Due #Days/Date and press Enter.

d. Type the number that represents the number of days after the purchase or the day of the month. Then click OK.

4. Set the default number of payments for an invoice:

a. Select Default AR Terms (#Payments) and press Enter.

b. Type the number of installments and click OK.

5. Set the default early-pay discount percentage:

a. Select Default AR Discount Percentage (%) and press Enter.

b. Type the percentage amount and click OK.

6. Set the requirements for receiving the early-pay discount:

a. Select Default AR Discount (D=#Days or T=Date) and press Enter.

b. If you need to receive the payment by a specific number of days after the purchase, select Days. If you need to receive the payment by a specific day of the month instead, select Th. Then click OK.

c. Select Default AR Discount #Days/Date and press Enter.

d. Type the number that represents the number of days after the purchase or the day of the month. Then click OK.

7. Close the System Controls screen.