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Use this form to define the terms of payment that you assign to sales orders, purchase orders, customers, and vendors in either Accounts receivable or Accounts payable.

Calculation of the due date

The due date is calculated on the basis of the invoice date and the terms of payment that are specified for a purchase order or sales order.

If you have not specified particular terms of payment for an order, the due date is calculated on the basis of the invoice date and the terms of payment that are assigned to the vendor or customer.

Topics that use this form

Navigating the form

The following tables provide descriptions for the controls in this form.

Tabs

Tab

Description

Overview tab

Create and view the terms of payment.

General tab

View the tab information for the selected terms of payment.

Setup tab

Specify the setup of the selected terms of payment.

Specify whether to require a certified check when a customer pays at the time of delivery, and whether to use credit check procedures or a credit card authorization service – such as Microsoft Dynamics Payment Services or Authorize.Net – for a payment type.

Button

Button

Description

Translate the description into other languages.

Fields

Field

Description

Enter a code or a short name for the terms of payment.

Example

Terms of payment identification

Description

COD

Cash on delivery

Net20

Net and 20 days

Enter a descriptive name for the current terms of payment.

Example

Terms of payment identification

Description

COD

Cash on delivery

Net20

Net and 20 days

Select the method to use to calculate the due date. The list box displays all the available methods.

If you have chosen as the delivery method, select this check box to indicate that the payments should be made in cash and not by check.

Enter the number of months to add to the payment method to calculate the due date.

Enter the number of days to add to the payment method to calculate the due date.

Link payment terms to a payment schedule that defines how an invoiced amount is split into installments that must be paid in specific intervals.

Note Note

If you link your terms of payment to a payment schedule, the rules set up in the terms of payment are used to calculate the due date of the first installment. The rules set up in the payment schedule are used to calculate the due date of the subsequent installments.

Select a payment day to use to calculate the due date. The due date is always rounded up to the nearest specified date. The payment day can be specified:

  • For a specific day in the week

  • For a specific day in the month

Select a ledger account for settlement of invoices paid with cash.

Select this check box to allow offsetting Accounts receivable entries to be posted when the selected payment terms are used.

Note Note

(ITA) This field is available only if the configuration key for Italy is selected.

Select this check box to require a certified check for the COD payment terms.

Select Credit cardto preapprove credit cards using Authorize.Net or Microsoft Dynamics Payment Services.

Select Normalto use your company's standard credit check process.

Select Bypass credit checkto use the payment terms without validating the customer's credit.

Note Note

If the method of payment is a credit card and your business uses a service to preapprove credit cards, you might not need to follow the credit approval process.