Terms Master File

(Terms.exe) In this program, the user will be able to enter in the Terms which may be used in creating Purchase Orders and Vouchers.

Adding a Terms Code

Key in CTRL+N, click the New icon or select File then New from the application menu to begin entering a new Terms Code. Enter the Terms Code first; this can be up to 3 characters. Then type in the Terms Description. A specific PO Type may be assigned to the Term by selection using the drop down. Set the Terms Type (Use Net/Discount Days, Due On This Day of Month, Use Mid Term Day, or Immediate Pay).
Enter Net Days to determine the due date and Discount Days to determine the discount date. The numbers you type in these fields will be added to the invoice date to determine the due date and discount date for each invoice. Key in the Discount Percentage in the appropriate field. Example: for a 10% discount, enter 10, not .10. If you want to use freight when determining discount total, check the Discount Freight box. When this box is checked, the discount will be taken on net and the freight. When adding new terms codes the "Discount Freight" check box will default to unchecked. The Due On This Day of Month can set to a specific day of the month in the Date field. Use Mid Term Day will allow terms based on a cutoff date. If the invoice date is below the cutoff date it will be due on a certain date. Above or equal will be due on a later date. For example, if the cutoff date (Mid Term Day) is 15, invoices dated from 1 to 14 will be due on the day of the month as set in the Pre Mid Term Day and invoices dated 15 through 31 will be due on the day of the following month as set in the Post Mid Term Day. These days may be set by the user. If Immediate Pay is set, invoices will be marked upon matching to pay on the next check run. When the new Term is created the Active box will be checked. Key in CTRL+S, click the Save icon or File then Save on the application menu to save the record.

Deleting a Terms Code

To delete a record, first select the record you want to delete. You can use the lookup function to accomplish this. If you double click in the Terms Code field or Description field you may do a lookup. Then key in CTRL+D, click the Delete icon or choose File then Delete from the application menu. Answer yes to the question asking you if you are sure you want to delete the record.