To Configure Multiple-Installment Credit Terms

You use the Credit Terms (CS206500) form to define each set of credit terms. For a set of credit terms, you can specify payment as a single installment (described in To Configure Single-Installment Credit Terms) or as multiple installments (described in this topic).

To Configure Credit Terms for Multiple Installments

  1. Open the Credit Terms (CS206500) form.
  2. In the General Settings section, in the Terms ID box, type the identifier of the credit terms. The ID may contain up to ten characters.
    CAUTION: We do not recommend using any special symbols in the identifiers of entities.
  3. In the Description box, type the description of the terms.
  4. In the Visible To box, select the visibility of these credit terms (that is, under what circumstances they are listed and available for selection). The following options are available:
    • All: The terms can be assigned to both vendors and customers.
    • Vendors: The terms can be assigned to vendors only.
    • Customers: The terms can be assigned to customers only.
    • Disabled: The terms are removed from the selection lists for both vendors and customers.
  5. In the Installment Type box of the Installments Settings section, select Multiple.
  6. In the Installment Method box, select the installment method, which determines how the system calculates the installment amounts.
  7. If you selected the Equal Parts or Tax in First Installment installment method, do the following:
      1. In the Number of Installments box, type the number of installments.
      2. In the Installment Frequency box, select the installment frequency.
  8. If you selected the Split by Percent in Table method, do the following for each installment:
    1. On the Installments Schedule table toolbar, click Add Row.
    2. In the Days column, type the number of days from the due date on which this particular installment is due.
    3. In the Percent column, type the percent of the installment.
  9. In the Due Date Type box of the Due Day Settings section, select the due date type. For detailed descriptions of the options, see Setup of Credit Terms.
  10. Depending on the due date type, specify the values of the other available elements (if any) in the Due Day Settings section.
  11. On the form toolbar, click Save.