[HQ] How to Set Up Payment and Discount Terms

Overview:
Payment terms are configured in HQ Payment Terms and can be referenced across multiple modules. The program includes four primary fields: Days Until Discount/Due, Discount/Due Date, Cutoff Day, and Discount Percent.

Field Descriptions:

• Days Until Discount/Due – Specifies the number of days until the invoice is due or until the discount expires. This calculation is based on the invoice date.

• Discount/Due Date – Defines a default day of the month for the discount or due date. This is independent of the invoice date.

• Cutoff Day – Applies only to the "Days Until Discount/Due" field and determines whether the discount or due date rolls over to the next month.

• Discount Percent – Specifies the discount percentage applicable within the discount period.

• Discount Based on Materials – If enabled, discounts apply to Material Sales transactions. The system applies the discount in the following priority:

  1. Discount override on an active quote

  2. Discount Template on an active quote

  3. Discount Template on the AR Customer

  4. Default discount in HQ Materials

Testing and Sample Data:

• The Check Date Default section allows you to test the payment term by entering a sample invoice date. The system will display the corresponding discount and due dates.

• The Sample Defaults tab provides examples of invoice, discount, and due dates based on the payment term configuration.