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SpendMap User Guide (v14.8)

Navigation: Purchasing (Main Module) > Master Files

Terms of Payment Master File

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PURCHASING > Master Files > Terms of Payment > Add/Modify/Delete

 
Terms of payment codes print on Purchase Orders and describe the conditions of payment for the order and typically specify the period allowed for the buyer (you) to pay the amount due.

Terms of payment are also used to calculate early payment dates and discounts when approving invoices with the optional Invoice Approval Module. Those details can then optionally be sent with each invoice (check request) to your Accounts Payable system via the A/P Interface.

 

Terms of Payment Master File Screen