A5.64 : Master Data - Sales & Purchase : Credit Term

A5.64 : Master Data - Sales & Purchase : Credit Term

This function allows you to maintain Credit Terms applied by your company. Credit term is used in your Sales and Purchases entries.


 

To access Credit Term, click on the Master Data icon > Credit Term.

 


 

 

 



Creating a new Credit Term


To create a new Credit Term, click on the “+New” button.



 


Fields

Credit Term: Key in your credit term. Usually it will be updated based on the type of terms that set and select.

Type of Terms: Select type of terms to apply

 


Terms explanation:


Cash

Cash term entries. The outstanding will be due on the same day of the bill.

 

C.O.D

Cash on delivery. The outstanding will be due on the same day of the bill.

 

Due in number of days

The outstanding will be due in X days from the billing date.

*X is number of days.

 


Based on the example, if the billing date is 15 September, the due date of the bill will be 10 days later, which is 25th September.

 

 

Due on days of next months

The outstanding will be due on the X day counting from the first day of next Y month.

*X is number of days begin of month.

*Y is number of months.

 


Based on the example, if the billing date is 15 September, the due date of the bill will be on the 10th day of next 1 month, which is 10th of October.

 

 

Due on days before end of the month

The outstanding will be due on the X days of month, counting from the last day of the month.

*X is number of days before end of month.



Based on the example, if the billing date is 15 September, the due date of the bill will be 10 days before end of month, which is 21st of September.

 

 

Due on days before end of next months

The outstanding will be due on the X days of next y months, counting from the last day of the Y month.

*X is number of days before end of month.

*Y is number of months.



Base on the example, if the billing date is 15 September, the due date of the bill will be 10 days before end of next month, which is 22nd October.

 

Click “Save” to commit the changes once you had done keying in or editing the required information.


--Source from AutoCount Wiki --

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