New features added, version 7.5.2
Program SPTM, Terms Code Maintenance, is used to add, delete, and maintain terms codes for all financial enterprises. These codes are used in programs throughout the system to identify both accounts receivable and accounts payable terms. You cannot delete codes that are currently in use.
1. In the Terms Code field, enter the terms code identifier.
2. In the Description field, enter the terms code description.
3. In the Discount Percent field, enter the discount percentage for the code.
4. In the Discount Days field, enter the number of days to be used to calculate the discount due date.
* This number has different meaning depending on the type of discount.
* When the type of discount is A - Actual Day, this is the number of days after the invoice date in which the invoice can be paid and the discount will be applied. For example, if the number here were 10, and the invoice date was 03-01-04, the discount due date would be 03-11-04.
* When the type of discount is D - Day of the Month, this is the day of the month on which the discount is due. The date is determined by the cutoff date. If the invoice date is before the cutoff day, the discount due date will be on this day of the month in the current month. If the invoice date is on or after the cutoff day, the discount due date will be on this day of the month in the next month after the invoice date.
* For example, if the cutoff day is 10, the discount day is 25, and the invoice date is between 03-01-04 and 03-09-04, the discount due date will be 03-25-04. If the invoice date is 03-10-04 through 03-31-04, the discount due date will be 04-25-04.
5. In the Discount Type field, enter the type of discount, A - actual day and D - day of the month.
6. In the Discount Cutoff field, enter the day of the month that is the cutoff for that month.
* The cutoff date does not apply to A - Actual Day type discounts.
* When the type of discount is D - Day of the Month, this is the day of the month that is used to determine whether the discount will be in the current month or the next month after the invoice date.
* For example, if the cutoff day is 10, the discount day is 25, and the invoice date is between 03-01-04 and 03-09-04, the discount due date will be 03-25-04. If the invoice date is 03-10-04 through 03-31-04, the discount due date will be 04-25-04.
7. In the Net Due Days field, enter the number of days to be used to calculate the invoice due date.
* This number has different meaning depending on the Net Due Type.
* When the net due type is A - Actual Day, this is the number of days after the invoice date on which the invoice will be due. For example, if the number here were 10, and the invoice date was 03-01-04, the invoice due date would be 03-11-04.
* When the net due type is D - Day of the Month, this is the day of the month on which the invoice is due. The date is determined by the cutoff date. If the invoice date is before the cutoff day, the invoice due date will be on this day of the month in the current month. If the invoice date is on or after the cutoff day, the invoice due date will be on this day of the month in the next month after the invoice date.
* For example, if the cutoff day is 10, the net due day is 25, and the invoice date is between 03-01-04 and 03-09-04, the invoice due date will be 03-25-04. If the invoice date is 03-10-04 through 03-31-04, the invoice due date will be 04-25-04.
8. In the Net Due Type field, enter the net due type, A - actual day or D - day of the month.
9. In the Net Due Cutoff field, enter the day of the month that is the cutoff for that month.
* The cutoff date does not apply to A - Actual Day type discounts.
* When the net due type is D - Day of the Month, this is the day of the month that is used to determine whether the invoice will be due in the current month or in the next month after the invoice date.
* For example, if the cutoff day is 10, the net due day is 25, and the invoice date is between 03-01-04 and 03-09-04, the invoice due date will be 03-25-04. If the invoice date is 03-10-04 through 03-31-04, the invoice due date will be 04-25-04.
10. Press [Commit].