You assign the terms of payment applicable for each customer/debtor in the Business partner file. A default due date is calculated from the payment terms, but it can be overridden when the order or invoice is entered.
Tip: You can also, optionally, enter a terms of payment code in Work with sales order types. During order entry, this entry will override the terms of payment defined for the customer in the Business partner file. This allows you to deviate from the normal payment terms for the customer. This deviation can be applied for whatever reason, but is, for example, typically used in the pharmaceutical industry to promote highly seasonal products – getting them into the market ahead of time but delaying the payment.
- Select the Work with business partners menu item.
- Select the applicable customer and navigate to the A/R basic data panel.
- Enter the applicable terms of payment code in the Terms of payment field.
Note: You can add a number of days to the cash discount days so that a delayed payment will still entitle the debtor to the cash discount. If you enter 2, in the Extra cash days field, a cash discount that states 10 days and 2% in the Terms of payment table will allow the debtor to pay within twelve days and still be entitled to the cash discount. The extra days are added at invoice entry.