Vendor Due Date Terms can be edited to allow the system to calculate Auto Due/Discount Dates
Found in System Settings > Vendor > Terms the user can create/maintain Vendor Terms codes.
There are basically 3 different types of terms codes that can be created. The above screenshot shows some typical examples.
- Codes that force the Due/Discount dates to be the same as the invoice date. These are indicated by either the “COD” or “Due On Sale” checkbox being selected. When either is selected, the remainder of the fields serve no purpose and cannot be changed
- Codes that calculate Due/Discount dates based on a “number of days” from the invoice date.
- Codes which set the Due Date to a specific day of the month “Due On Date”
Once the terms codes are defined, the vendor can be assigned one of these codes.