Creating a New Purchase Order Payment Term

To create a new payment term:

  1. Click the PO Payment Terms tab and click New.
  2. Enter a description.
  3. Select which date to use as the Basis for Due.
  4. Enter the number of days in which the payment is to be made.
  5. Enter a discount as required.
  6. Enter the value that any discounted price is valid to.
  7. Enter the discount percentage
  8. Enter the Terms Name.
  9. Click Save.
Note:

We advise you avoid the use of commas in the Terms Name. Commas are used as delimiters in the "Payment Terms Allow Match Before Receipt" custom setting. If you use a comma in a payment term name and you intend to use the payment term in the "Payment Terms Allow Match Before Receipt" custom setting, you must prefix the term name comma with a backslash "\" when you add it to the custom setting field. This will ensure the system does not interpret a comma in your payment term name as a delimiter in the custom setting field when you add more than one payment term.

Note:

When you associate a PO Payment Term with the "Payment Terms Allow Match Before Receipt" Custom Setting you must enter the Terms Name in the Custom Setting text box exactly as it appears in the Terms Name field in the PO Payment Terms Detail section. If you want to specify multiple payment terms in the custom setting, use a comma as the delimiter.