To Configure Single-Installment Credit Terms

You use the Credit Terms (CS206500) form to define each set of credit terms, including due dates and conditions for cash discounts when an outstanding balance is paid early. For a set of credit terms, you can specify the payment as a single installment (described in this topic) or as multiple installments (described in To Configure Multiple-Installment Credit Terms).

To Configure Credit Terms for a Single Installment

  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 Single.
  6. 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.
  7. Depending on the due date type, specify the values of the other available elements (if any) in the Due Day Settings section.
  8. Optional: In the Cash Discount Settings section, enter the settings that affect the discount for an early payment:
    1. In the Discount Type box, select the discount date type. The availability of options depends on the option selected as the Due Date Type.
    2. In the Discount Day box, specify the number of days or the particular day of the month, depending on the option selected in the Discount Type box. (This box is unavailable for some Discount Type options.)
    3. In the Discount % box, specify the percent to be applied to the document total amount to calculate the discount percentage.
  9. On the form toolbar, click Save.