Payment terms

Payment terms define standard early payment discount dates and invoice due dates. Payment terms can be based on the invoice date or the end of month date. Default payment terms can be assigned to customers. When an invoice is entered for a customer with default payment terms, those terms are loaded on the invoice but can be overridden.

Create payment terms

In the Navigation pane, highlight the Accounts Receivable > Setup > Terms folder.
Click . The New Terms window opens.
Enter a unique Code for the payment terms.
Enter a Description for the payment terms.
In the Due Date Days field, enter the number of days from the due date reference date (end of month or invoice date) until payment is due.
By default, ActivityHD uses the last day of the calendar month as the basis for calculating the due date and discount dates for the "End of Month" method. You can, however, base your end-of-month payment terms on a different cutoff date. This is called proximo or prox dating. If you use prox dating, enter the day of the month to base the end of month on for these payment terms in the End of Month Day field. Leave this field blank if you want to use the actual last day of the month.

Note

If the day you specify here is greater than the last day of the month, the actual last day of the month is used. For example, if you enter "30", the 30th of the month is used for the due date calculation for all months except February. For February, "28" or "29" is used, depending on whether it's a leap year. Entering "31" here is equivalent to leaving the field blank.
In the Due Date Reference field, select which reference date to base the due date determination on. Your options are:
- End of Month. If the invoice date falls before the End of Month Day, the current month's end-of-month day is used as the starting point for calculating the due date. If the invoice date falls after the End of Month Day, next month's end-of-month day is used as the starting point. In either case, Due Date Days is added to the End of Month Day to determine the invoice due date. If the End of Month Day is "25" and the invoice date is 07/20, then 07/25 is the starting point. If the invoice date is 07/27, then 08/25 is the starting point.
- Invoice Date. The due date is determined by adding Due Date Days to the invoice date.
In the Discount Reference field, select which reference date to base the discount calculation on. Your options are:
- End of Month. If the invoice date falls before the End of Month Day, the current month's end-of-month day is used as the starting point for calculating the discount date(s). If the invoice date falls after the End of Month Day, next month's end-of-month day is used as the starting point. In either case, Discount Date Days is added to the End of Month Day to determine the discount date(s). If the End of Month Day is "25" and the invoice date is 07/20, then 07/25 is the starting point. If the invoice date is 07/27, then 08/25 is the starting point.
- Invoice Date. The discount date(s) is determined by adding Discount Date Days to the invoice date.
In the Discount Dates table, enter the discount terms associated with the payment terms. If there are no discount terms, leave this area blank.
Enter as many discount lines as you need. Percentages should decrease from top to bottom.
1. In the Days column, enter the number of days from the discount reference date to allow for payment to be made in order to claim a discount.
2. In the Percent column, enter the discount percentage available if payment is made by the corresponding discount date. The actual amount of the discount is determined by multiplying the percent times the discount basis.
Save the new payment terms.

Terms Record ID

Code

A unique code for the payment terms.

Description

A description of the payment terms.

Terms tab

Due Date Days

The number of days from the due date reference date (end of month or invoice date) until payment is due.

End of Month Day

By default, ActivityHD uses the last day of the calendar month as the basis for calculating the due date and discount dates for the "End of Month" method. You can, however, base your end-of-month payment terms on a different cutoff date. This is called proximo or prox dating. If you use prox dating, enter the day of the month to base the end of month on for these payment terms. Leave this field blank if you want to use the actual last day of the month.

Note

If the day you specify here is greater than the last day of the month, the actual last day of the month is used. For example, if you enter "30", the 30th of the month is used for the due date calculation for all months except February. For February, "28" or "29" is used, depending on whether it's a leap year. Entering "31" here is equivalent to leaving the field blank.

Due Date Reference

The reference date to base the due date determination on. Your options are:

End of Month. If the invoice date falls before the day specified in the End of Month Day field, the current month's end-of-month day is used as the starting point for calculating the due date. If the invoice date falls after the end-of-month day, next month's end-of-month day is used as the starting point. In either case, the value in the Due Date Days field is added to the end-of-month day to determine the invoice due date.
Examples
If the end-of-month day is "25" and the invoice date is 07/20, then 07/25 is the starting point.
If the end-of-month day is "25" and the invoice date is 07/27, then 08/25 is the starting point.
Invoice Date. The due date is determined by adding the value in the Due Date Days field to the invoice date.

Discount Reference

The reference date to base the discount date determination on. Your options are:

End of Month. If the invoice date falls before the day specified in the End of Month Day field, the current month's end-of-month day is used as the starting point for calculating the discount date(s). If the invoice date falls after the end-of-month day, next month's end-of-month day is used as the starting point. In either case, the value(s) in the Discount Date Days column in the Discount Dates table is added to the end-of-month day to determine the discount date(s).
Examples
If the end-of-month day is "25" and the invoice date is 07/20, then 07/25 is the starting point.
If the end-of-month day is "25" and the invoice date is 07/27, then 08/25 is the starting point.
Invoice Date. The discount date(s) is determined by adding the value(s) in the Discount Due Days column in the Discount Dates table to the invoice date.

Discount Dates table

Use this table to enter the discount terms associated with the payment terms. If there are no discount terms, leave the table blank. Enter as many discount lines as you need. Percentages should decrease from top to bottom.

Days

The number of days from the discount reference date in which payment must be made in order to claim the corresponding discount.

Percent

The discount percentage available if payment is made by the corresponding discount date. The actual amount of the discount is determined by multiplying the discount percent times the discount basis.

The following formula is used to calculate the discount amount:

Discount = Payment Terms Basis * (Percent / 100)

Custom tab

This tab is visible if custom fields exist for the entity. At a minimum, if there are custom fields, a Fields subtab will be present. One or more additional categories of subtabs may also be visible.

Fields subtab

This tab prompts for values for any custom fields set up for entity records of this entity type. Respond to the prompts as appropriate.

References subtab

This tab is visible if other records reference the current record.

Reference

From the drop-down list, select the custom field to view references for. Reference custom fields have the following format: PackageName.EntityName.CustomFieldName.

Example

Suppose a custom field exists on PRCodes that references an ARCode. On the ARCode record, on the Custom > References subtab, you can view all the PRCodes which reference that ARCode.

Exchange Folder subtab

This tab is visible only if you set up a custom field with a data type of "Exchange Folder". The label on this tab is the name assigned to the custom field.

This tab shows the contents of the specified Exchange folder.

File subtab

This tab is visible only if you set up a custom field with a data type of "File". The label on the tab is the name assigned to the custom field.

This tab renders the contents of the specified file according to its file type.

Internet Address subtab

This tab is visible only if you set up a custom field with a data type of "Internet Address". The label on this tab is the name assigned to the custom field.

This tab shows the contents of the specified web page.

Network Folder subtab

This tab is visible only if you set up a custom field with a data type of "Network Folder". The label on this tab is the name assigned to the custom field.

This tab shows the contents of the specified network folder.

Customers tab

The AR Customers pane shows the AR Customers HD view filtered to show all customers the selected payment terms are assigned to.

Double-click a row in the pane to drill down to its record in the AR Customer window.

Attachments tab

The Attachments tab is visible if any record for a given entity has an attachment. If the Attachments tab is not visible, this implies that no record of the entity type has an attachment on it; however, once an attachment is added to any record of the entity type, the Attachments tab will become available.

Attachments

The list box shows the files which are attached to the current record. Highlight a file name to preview the file in the adjacent pane. Double-click a file name to open the file in its native editor.

Preview pane

If a file name is highlighted in the Attachments list box, this pane shows a preview of the file contents. Some file types cannot be previewed but can be double-clicked to open in their native editor.

Change Logs tab

This tab is visible if the user has "Change Logs" access to the associated data folder resource.

The Change Logs pane shows the Change Logs HD view filtered to show all change logs for the selected entity record.

Double-click a row in the pane to drill down to its record in the Change Log window.

Other tab

Memo tab

To include additional information about this record not collected elsewhere, enter it in this text box. This area supports common keyboard shortcuts such as Ctrl+C to copy and Ctrl+V to paste.

Timestamps tab

This tab shows the user who created this record and the date and time of creation as well as the user, date, and time of the latest modification to the record.

Developer tab

This tab is visible only when developer features are enabled.

Automation subtab

This subtab shows field names and values for the current data record. Use the information in the subtab to assist when creating automation objects such as bots and import files. The field names and field values can be copied from the text box and pasted directly into your code or application. To copy content from the text box, highlight the content to copy and press Ctrl+C or right-click your selection and select Copy from the context menu.

Export (XML | JSON) subtab

This subtab shows the XML syntax for exporting the selected data record. The syntax can be copied from the text box as an exemplar for creating your own automation objects for bots, import files, ActivWebAPI, etc. To copy content from the text box, highlight the content to copy and press Ctrl+C or right-click your selection and select Copy from the context menu.

Import (XML | JSON) subtab

This subtab allows you to select a file for import and shows the XML syntax for importing data records. Use the subtab to explore the XML syntax for importing data records. In particular, you can investigate the syntax which results when using Data.Import and ActivWebAPI data POST and DELETE routes.

Change Log (XML | JSON) subtab

This subtab is visible only when the Enable Change Logs option is marked in System Options or Company Options (depending on whether the feature applies at the system or the company level). This is the default setting when developer features are enabled.

This subtab allows you to investigate changes to the current data record. The syntax can be copied for use in bots, dashboards, ActivWebAPI, and other automation. To copy content from the text box, highlight the content to copy and press Ctrl+C or right-click your selection and select Copy from the context menu.

Select Statement (SQL) subtab

This subtab allows you to investigate the SQL select statement used to retrieve the current data record. The syntax can be copied as an exemplar for data sources and other automation. To copy content from the text box, highlight the content to copy and press Ctrl+C or right-click your selection and select Copy from the context menu.

Common accesses available on payment terms

Access	A user with this access can...
Change	Use the mass change action on payment terms.
Change Logs
Custom Fields	Create and edit custom fields for payment terms.
Data	Have read-only access to payment terms from anywhere in the software (e.g., field validations, filters, date expressions).
Delete	Delete payment terms.
Edit	Edit payment term records.
Export	Export payment term records from ActivityHD.
Import	Import payment term records into ActivityHD.
New	Create new payment term records.
Read	Have read-only access to payment term records.
Report	Run reports with payment term information.
Report Designs	Create and edit report designs with payment terms information. This access enables the Report Designs button on the Output tab of report dialogs.
Shared Answers	Create and edit saved answers related to payment terms.
Shared Filters	Create and edit shared filters on payment terms.
Visible	View the Payment Terms folder in the Navigation pane.

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Payment terms

Create payment terms

Create payment terms

Terms Record ID

Terms tab

Custom tab

Fields subtab

References subtab

Exchange Folder subtab

File subtab

Internet Address subtab

Network Folder subtab

Customers tab

Attachments tab

Change Logs tab

Other tab

Developer tab

Automation subtab

Export (XML | JSON) subtab

Import (XML | JSON) subtab

Change Log (XML | JSON) subtab

Select Statement (SQL) subtab

Payment terms security

Common accesses available on payment terms