SedonaSetup Application Accounts Receivable Setup Tables/Options
General
Term Code: Enter a Terms Code that is easily identifiable by the user that will be making selections during data entry.
Description: Enter a description for the Terms Code.
Aging Based On
Invoice Aging Date (A/R Only): Is used for Aging purposes. This determines at which point Invoices will appear as past due.
Due Date: The number of days from the invoice date that the invoice is due to be paid.
A/P Discounts
If the term code is to be used for an Accounts Payable term and the Vendor offers discount terms, you will enter the number of days in which the invoice must be paid and the percentage that will be deducted from the bill amount for the discount.
Discount Days: The number of days from the bill date that the discount is valid.
Discount %: The discount percentage you will be taking from the bill amount.