Difference between revisions of "How do I enter customer and supplier payment terms?"
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Katy Kitchen (talk | contribs) (Created page with "== Summary == This article explains how to set the payment terms per customer and supplier. Options include a payment period, specific date and end of month terms. == More In...") |
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Follow this article to [[Creating a new customer or supplier|create]] a new customer or supplier record or [[Do I have to remember all these customer and supplier codes?|search]] for an existing account. | Follow this article to [[Creating a new customer or supplier|create]] a new customer or supplier record or [[Do I have to remember all these customer and supplier codes?|search]] for an existing account. | ||
* Go to the {{Tab|Invoicing}} tab. | * Go to the {{Tab|Invoicing}} tab. | ||
| − | * Select the {{DataPrompt|Credit Units}} to apply to the account; {{DataValue|Days}} or {{DataValue|Months}}. | + | * Select the {{DataPrompt|Credit Units}} to apply to the account; {{DataValue|Days}} or {{DataValue|Months}}. |
* If {{DataValue|Days}} is selected, enter the number of days in {{DataValue|Credit Period}}. | * If {{DataValue|Days}} is selected, enter the number of days in {{DataValue|Credit Period}}. | ||
* If {{DataValue|Months}} is selected: | * If {{DataValue|Months}} is selected: | ||
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=== Supplier Payment Due Dates === | === Supplier Payment Due Dates === | ||
| − | When posting a [[Posting purchase invoices#Advanced Details|Purchase invoice]] the due date is calculated based on the supplier payment terms. You may overwrite the due date while posting a specific invoice. | + | When posting a [[Posting purchase invoices#Advanced Details|Purchase invoice]] the due date is calculated based on the supplier payment terms. You may overwrite the due date while posting a specific invoice. |
The due date is displayed in Purchase Ledger [[Paying suppliers|Payments]] and [[How do I authorise and make bulk supplier payments?|Bulk Payments]]. | The due date is displayed in Purchase Ledger [[Paying suppliers|Payments]] and [[How do I authorise and make bulk supplier payments?|Bulk Payments]]. | ||
The due date can also be viewed and amended from [[How do I edit an Invoice after it has been posted?|Supplier History]]. | The due date can also be viewed and amended from [[How do I edit an Invoice after it has been posted?|Supplier History]]. | ||
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=== Customer Payment Due Dates === | === Customer Payment Due Dates === | ||
| − | When producing a Sales invoice the due date is calculated based on the customer payment terms. | + | When producing a Sales invoice the due date is calculated based on the customer payment terms. |
The due date can be viewed and amended from [[How do I edit an Invoice after it has been posted?|Customer History]]. | The due date can be viewed and amended from [[How do I edit an Invoice after it has been posted?|Customer History]]. | ||
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* [[Recommended accounting routines]] | * [[Recommended accounting routines]] | ||
| − | {{KB_Tags|due date, payment date, credit terms, | + | {{KB_Tags|due date, payment date, credit terms, eom, terms, payment due, credit period, payment period}} |
{{FAQ}}{{How}}{{KB_PL}}{{KB_SL}}{{ZN_Admin}} | {{FAQ}}{{How}}{{KB_PL}}{{KB_SL}}{{ZN_Admin}} | ||
Revision as of 06:29, 20 December 2020
Contents
Summary
This article explains how to set the payment terms per customer and supplier. Options include a payment period, specific date and end of month terms.
More Information
Follow this article to create a new customer or supplier record or search for an existing account.
- Go to the [Invoicing] tab.
- Select the "Credit Units" to apply to the account; 'Days' or 'Months'.
- If 'Days' is selected, enter the number of days in 'Credit Period'.
- If 'Months' is selected:
- Enter '1' in 'Credit Period'
- Select the 'Day of month' payment is due e.g. a specific date or the 'Last' day of the month (for any invoice due in February if you select the 29th or 30th the system will automatically revert to the last day of February).
- Click [Done] and [Accept].
Supplier Payment Due Dates
When posting a Purchase invoice the due date is calculated based on the supplier payment terms. You may overwrite the due date while posting a specific invoice.
The due date is displayed in Purchase Ledger Payments and Bulk Payments.
The due date can also be viewed and amended from Supplier History.
Customer Payment Due Dates
When producing a Sales invoice the due date is calculated based on the customer payment terms.
The due date can be viewed and amended from Customer History.
See also
- Creating a new customer or supplier
- Do I have to remember all these customer and supplier codes?
- How do I edit an Invoice after it has been posted?
- Recommended accounting routines
