Use this screen to set up vendor terms to be used in calculating discounts and due dates. You must set up terms in this screen before you can assign them to vendors (in the Maintain Vendors screen) or vouchers (in the Enter PO Vouchers screen and/or Enter A/P Vouchers screen in Costpoint Accounts Payable).
Enter a code that describes the terms that you want to set up, i.e., Net 30, 1st of month, or 1%, 10 net 30. The term's description does not require that any logic be built in to calculate the due date. You must select a due date method and how you want the system to calculate the due date.
Enter a discount percentage for this term without the percentage sign. For example, "1" for 1%, "10" for 10%, etc.
Enter the maximum number of days available to take advantage of the discount.
Select this radio button to calculate the due date based on the invoice date in the Enter PO Vouchers screen and/or Enter A/P Vouchers screen in Costpoint Accounts Payable.
Select this radio button to calculate the due date based on the transaction date at the time vouchers are entered.
Select this radio button to calculate the due date based on the receipt date in Costpoint Purchasing. If you selected this option and there is no receipt date in Costpoint Purchasing, the system will provide a warning at the time of voucher entry and default to the transaction date. You will have the option to change the due date.
Use the options in this group box to select the due date method.
Select this radio button to calculate the due date by adding a number of days from the invoice, transaction, or receipt date.
Select this radio button if the due date is on a fixed day of the month, i.e., 1st of the month, 15th of the month, or last day of the month.
Select this radio button if the due date is on a fixed day of the month and for a range of dates depending on invoice, transaction, or receipt dates, i.e., invoice dates from the 1st through the 15th are due on the 20th of the month and 16th through 31st are due on the 5th.
Enter the number of days to add to the invoice, transaction, or receipt date to calculate the due date.
Use this drop-down box to select a day of the month for the due date. The range of valid days is 1st through 31st and is predefined by the system. If the day of the invoice, transaction, or receipt is later than the Day of Month, the due date will be the day of the following month. Otherwise, the due date is in the same month. For example, if the day of the month due is the 15th, invoice dates from the 1st to the 14th will be due on the 15th of the same month and invoice dates from the 15th to the last day of the month will be due on the 15th of the next month.
Enter the beginning day of the month for the range. The valid days are from the 1st through the 31st. You will receive a message if the day of the month is outside this range.
Enter the ending day of the month for the range. The valid days are from the 1st through the 31st and must be greater than the From day of month. You will receive a message if the day of the month is outside this range or if the To is less than the From day of the month. If you enter only one row in the table, you should not use this method because it would be the same as using the Day of Month method. The system will also verify that the ranges you specify cover the entire month from the 1st through the 31st.
Enter the day of the month that the range is due. The valid days are from the 1st through the 31st.
Enter the current or the next month for day due. The valid values are "C" (Current) or "N" (Next). The system will default to "C." If you enter "N" when the range of days is from the 1st through the 15th, the day due is the 20th, and the invoice date is 2/14, Costpoint will calculate a due date of 3/20. If you enter "C" for the same example, the due date will be 2/20.