Enter a Set of Payment Terms for a Payable Analyte

You can enter payable analyte payment terms for each invoice iteration type, or specific to demurrage/despatch invoices.

Because payment terms are specific to invoice types, Specify Invoice Iteration Types for a Set of Contract Terms before specifying payment terms.

Security Note: You need the Allow contract maintenance security right in the Contracts domain security rights group for this activity.

Activity Steps

  1. Open the Sales Contract or Purchase Contract.
  2. Expand the required set of contract terms.
  3. Right-click the payable analyte and select New » Payment Terms from the menu.
  4. Right-click in the Issue Date Terms table and select New » [Invoice Type] / [Document Type] from the menu.

    If only an invoice type is selected, Reference Document is Standard Document.

    Note: If a set of payment terms already exists for the selected invoice type, the new payment terms are set on the next invoice iteration.

  5. Complete the following fields.
    • Start Invoice—Invoice iteration from which the payment term is applied. If not specified, this is open-ended. If specified, the iterations cannot be more than the maximum iterations specified for the contractual invoice type.
    • End Invoice—Invoice iteration up to which the payment term is applied. If not specified, this is open-ended. If specified, the iterations cannot be more than the maximum iterations specified for the contractual invoice type.
    • Payable Percentage—Percentage of the invoice total that must be paid. May be greater than 100% for non-final invoices. May be less than 100% for all invoice types. Default: 100%. Examples:
      • Greater than 100%—A business protects itself against commodity price moves by requiring overpayment of provisional invoices.
      • Less than 100%—A business avoids issuing credit notes by requiring only partial payment of provisional invoices.
    • Payment Term Concept—Calculation method for the payable amount. Select from:
      • Total Value (default)—The payable amount is calculated on the total value.
      • Net Amount—The payable amount is calculated on the net amount and no tax component is added.
      • Net Amount before adding Tax—The payable amount is calculated on the net amount. Any tax component is calculated based on the net amount and then added to the instalment.
    • Copy Previous Payment Condition Line Items—Whether to copy the payment condition line items from the previous invoice iteration. If checked, the line items are copied from the previous invoice iteration. If unchecked, the line items are recalculated for this invoice iteration.
    • Comments
  6. Click Save.