Enter a unique code that describes the term that you are setting up; for example, Net 30, 1st of month, or 1% 10 net 30. The terms description is not used in calculating the due date, but each term should be unique and meaningful to your organization.

Enter a discount percentage for this term without the percent sign; for example, 1 for 1% or 10 for 10%.

Enter the maximum number of days that the customer is allowed to pay the invoice and still take the discount.

Select this option to calculate due dates based on the invoice date on the billing screen.

Select this option to calculate due dates based on the transaction date at the time billings are printed.

Select the Days option to calculate the due date by adding a number of days to the invoice or transaction date. Then enter the number of days in the Days Method group box. You can select only one due date method for each Terms Description code.

Select the Day of Month option if the due date is a fixed day of the month; for example, 1st of month, 15th of month, or last day of month. Then select the day of the month the invoices are due in the Day of Month Method group box. You can select only one due date method for each Terms Description code.

Select the Range of Days option if the due date is determined using a fixed day of the month and a range of dates (either based on invoice or transaction date, depending on your earlier selection); for example, invoice dates from the 1st through the 15th are due on the 20th of the month and dates from the 16th through the 31st are due on the 5th. Then enter information regarding the range of days and their corresponding due dates in the Range of Days group box. You can select only one due date method for each Terms Description code.

Enter the number of days to add to the invoice or transaction date to calculate the due date.

This group box is available if you selected the Day of Month option as the due date method in the Select Due Date Method group box.

Use this drop-down list to select a day of the month for the due date. The range of valid days is the 1st through the 31st, and is predefined by the system. If the day of invoice, transaction, or receipt is later than the day of month, the due date is the selected day of the following month. Otherwise, the due date is in the same month. For example, if you select 15 in this field, invoice dates from the 1st to the 14th are due on the 15th of the same month; invoice (or transaction) dates from the 15th to the last day of the month are due on the 15th of the next month.

Enter the beginning day of the month for the range of invoice (or transaction) dates. The valid days are 1 through 31. You receive an error message if the day of the month you enter is outside this range.

Enter the ending day of the month for the range of invoice (or transaction) dates. The valid days are 1 through 31, and your choice must be later than the From day of the month. You receive an error message if the day of month is outside this range, or if the To day is earlier than the From day of the month. If there is only one row in the table, do not use this method; select the Day of Month option instead. The system also verifies 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 1 through 31.

Select either C (Current) or N (Next) from the drop-down list. For example, if you select N and the range of days is from the 1st through the 15th, the day due is on the 20th, and the invoice date is 2/14, the system calculates a due date of 3/20. In the same example, if you select C, the due date is 2/20.