Contents of the Manage Vendor Terms Screen
Use the fields and options to configure the Manage Vendor Terms screen.
Terms Description
| Field | Description |
|---|---|
| Description |
Enter a code that describes the terms that you want to set up, such as Net 30, 1st of month, or 1%, 10 net 30. The term's description does not have any logic built in to calculate the due date. You must select a due date method and an option that determines how Costpoint calculates the due date. |
Terms Details
Discount
| Field | Description |
|---|---|
| Percent |
Enter a discount percentage for this term, without the percentage sign. For example, enter 10 for 10%. |
| Days |
Enter the maximum number of days available to pay the invoice in order to take advantage of the discount. |
Calculate Days Based on Date of
| Field | Description |
|---|---|
| Invoice |
Select this option to calculate the due date based on the invoice date. |
| Transaction |
Select this option to calculate the due date based on the transaction date at the time vouchers are entered. |
| Receipt |
Select this option to calculate the due date based on the receipt date in Purchasing. If you selected this option and there is no receipt date in Purchasing, Costpoint displays a warning when you enter the voucher and defaults to the transaction date. You then have the option to override the due date. |
Select Due Date Method
Select the due date method:
- Days
- Day of Month
- Range of Days
Days Method
| Field | Description |
|---|---|
| Number of Days |
To calculate the due date based on adding a number of days from the invoice, transaction, or receipt date, enter the number of days to add to the invoice, transaction, or receipt date. |
Day of Month Method
| Field | Description |
|---|---|
| Day of Month |
If you want the due date to be based on a fixed day of the month, such as the 1st of the month, select a day from the drop-down list. The range of valid days is 1 through 31. If the day of the invoice, transaction, or receipt is later than the Day Of Month, the due date is the day of the following month. Otherwise, the due date is in the same month. For example, if you select 15 as the due date, invoice dates from the 1st to the 15th of the month are due on the 15th of the same month, and invoice dates from the 16th to the last day of the month are due on the 15th of the following month. |
Range of Days Method
These options become available when you select Range of Days as the Select Due Date Method option.
Use these options if you want the due date to be based on a fixed day of the month and for a range of dates based on invoice, transaction, or receipt dates (invoice dates from the 1st through the 15th are due on the 20th of the month and the 16th through 31st are due on the 5th).
| Field | Description |
|---|---|
| From |
Enter the beginning day of the month for the range. Valid entries are 1 through 31. |
| To |
Enter the ending day of the month for the range. Valid entries are 1 through 31. Your entry in this field must be later than your entry in the From field. If there is only one row in this table, do not use this method because it would be the same as using the Day of Month method. Costpoint verifies that the ranges that you specify cover the entire month. |
| Day Due |
Enter the day of the month that the range is due. Valid entries are 1 through 31. |
| Curr/Next |
From the drop-down list, select one of the following values for the day due:
|