Terms

Due

Select the time period credits are due, from:

• Period
• Number of months
• Number of weeks
• Number of days

Day of Month

When the Due period is set to a number of Months, set the Due day of month.

Prompt Payment Discount

Discount (%)

The Percentage discount customer will receive for prompt payment.

Discount Available

The time period the customer must pay in to receive the prompt payment discount.

Day of Month

When the Discount Available is set to a number of Months, set the Day of the month the customer must pay by.

Maximum Discount (%)

The maximum discount percent.

Receipt Discount Calculation

Selected, (default) Discount will be calculated at the customers Discount % on the Net Receipt, it may then be adjusted.

Clear, Discount will not be calculated on Receipts but may be entered subject to user permissions.

Receipt Discount Allocation

Selected, Discount for customers with Discount terms must be strictly allocated against available discount on debit transactions.

Clear, (default) discount allocation is not required.

Receipt Discount Adjustment

Select the maximum receipt discount adjustment amount allowed for each available currency.

Overdue Interest

Overdue By

Specify the time frame overdue to determine the overdue transactions to charge interest on. This is used when you Generate Overdue Interest.

Interest rate

The interest rate charged per Period when you Generate Overdue Interest, for example, 1.5%.

Note: Decimal places allowed for interest rate are set in Company > Configuration > Decimals.

Sales Group

The Sales Group interest charges will be analysed to when you Generate Overdue Interest. Search for a sales group using the Accredo Lookups.

Reference

The reference that will appear on Interest transactions when you Generate Overdue Interest.

Comment

The comment that will appear on Interest transactions when you Generate Overdue Interest.

Clear Stop Credit when

Select from:

• Never - Customers must be manually cleared from Stop Credit.
• Outstanding Paid - provided the User has write permission for Stop Credit, Customers will be automatically be taken off Stop Credit when their Outstanding Balance reaches zero.
  For Customers with Payment Due terms other than Period, Due Date relative to Receipt Date and Hold Amount (if any) are considered in the Outstanding balance calculation.
• Fully Paid - provided the User has write permission for Stop Credit, Customers will be automatically taken off Stop Credit when their Total Balance reaches zero.