[HQ] How to Set Up Payment and Discount Terms

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Payment Terms can be set-up in HQ Payment Terms.

These payment terms can be referenced in many different modules.

The HQ Payment Terms Program contains the payments terms that can be used across most modules and consists of four main fields: Days Until Discount/Due, Discount/Due Date, Cutoff Day, and Discount Percent.

The "Days Until Discount / Due" field determines how many days until the invoice is due and/or until the discount is no longer valid. This date is based on the date of the invoice.

The "Discount / Due Date" date determines which day of the month you would like the default date to be. This date is not based on the Invoice date.

The "Cutoff Day" field is only used for the "Days Until Discount/Due" fields. This day is used to determine at which date the Discount or Due date if rolled over to the next month.

The "Discount Percent" field is used to determine what percentage of a discount will be given within the Discount Date.

The "Discount based on Materials" flag will allow discounts on Material Sales type transactions. If checked it will first try to use the discount override on an active quote. If there are none set up, the system will try to use the Discount Template on an active quote. If there are none set up in both of those, the system will try to use the Discount Template on the AR Customer. If there are still none set up, the system will default the discount set in HQ Materials.

The Check date default section can be used to test the Payment Term. A test invoice date can be input. The Discount and Due date will be shown below for the test date.

The Sample Defaults Tab will show examples of Invoice, Discount and Due dates based on the Payment Term that you have created.