Payment Term
Field Label | Field Level Help |
Account Undeposited Cash | If a Payment Term is prepaid, the standard AR account will be replaced by the "Account Undeposited Cash" account when posting Sales Invoices. |
Bypass AR | If checked, and when Sales Invoices are posted, the standard AR account will be replaced by the "Account Undeposited Cash" account, and Account Ledger Entries will not be created. |
Description | A description of the Payment Term. |
Discount % | The Discount % given when the payment is made by the Discount Date. |
Discount Date Calculation | The number of days until the Discount Date calculated from the Invoice Date. |
Due Date Calculation | The number of days until the Due date calculated from the Invoice Date. |
Payment Term Name | The unique alphanumeric text string for this Payment Term record. |
Prepayment % | The prepayment percentage defined by this Prepayment Term (set as 10.0 = 10%) |
Remit-to Factor Account | Define the AR Remit-to Account. Used in the Factoring business. |