Define Payment Terms

This section describes how to define payment terms. Payment terms determine how due dates and payment discounts are managed. You can assign payment terms to customers and vendors so that the payment term is automatically assigned to documents you create for those customers or vendors. If needed, you can still change the payment term on the document, for example if you want a particular customer to pay you within 7 days rather than 14 days. This does not affect the default payment term. To define a payment term, please proceed as follows:

  • Use the quick search (ALT+Q) in TRASER DMS 365 to find the page Payment Terms.
  • The page Payment Terms is displayed.
  • To set up a new payment term, click on New in the menu bar. A new line is added to the table.
  • Complete the following information:
Column Description
Code Enter a code for the payment term.
Due Date Calculation Specify a formula that will determine how due dates are calculated, e. g. 10D if the invoice should be sent to the customer after 10 days.
Discount Date Calculation Specify a formula that will determine how discounts are handled. For example, enter 5D if the customer should be granted a discount if they pay within the first five days.
Discount % Enter a discount percentage for the payment term.
Calc. Pmt. Disc. on Cr. Memos Activate this field if the discount should also apply to credit memos with this payment term.
Immediate Annuity Credit Disc./Refund Activate this checkbox if the due date of credit memos and refunds should be set to the document date.
Description Enter a description for the payment term.
Payment Text for Direct Debit Enter a text that will be printed on all documents that contain a payment term marked as direct debit.
No Payment Discount on Items Activate this field if you do not want to grant a discount on items that get added to documents with this payment term.
No Payment Discount on Resources Activate this field if you do not want to grant a discount on resources that get added to documents with this payment term.
  • You have successfully set up a new payment term.