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Settlement Term

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This function is used to define settlement agreements.

 

On this tab the following fields can be viewed:

 

hmtoggle_plus1Active

This field is used to make a settlement term record inactive but still visible for auditing purposes.  The default is active.

 

hmtoggle_plus1Add

When clicked the settlement record is added to the Settlement Term table.

 

The following rules must be adhered to:

The Description must be three characters or more,

The Code may not be spaces,

The Discount Days may not be greater than the settlement days.

 

hmtoggle_plus1Change

When clicked the settlement record is added to the Settlement Term table.

 

The following rules must be adhered to:

The Description must be three characters or more,

The Code may not be spaces,

The Discount Days may not be greater than the settlement days.

 

hmtoggle_plus1Code

This field displays the combination of the description and populates from the Settlement Term table with the Code and the Description.  The code must be at least 1 character and is mandatory.

 

hmtoggle_plus1Description

This field displays the description of the selected settlement term code from the Settlement Term table.  The length must be from 3 to 30 characters and is mandatory.

 

hmtoggle_plus1Delete

When clicked the settlement record will be removed from the Settlement Term table.  The delete will not take place if the settlement term is used on the following tables:

Table

 Field

External Organisation

 Def Debt Settlement  Term

External Organisation

 Def Cred Settlement Term

System Configuration

 Def Settlement Term

External Org Part price

 Settlement Term

Order Line

 Settlement Term

 

hmtoggle_plus1Discount Days

This field specifies that if you settled within these days you qualify for the discount.

 

hmtoggle_plus1Discount Date From

This field specifies from which date should the discount be calculated.  (i.e. Invoice Date, End of the Week, End of financial Month or End of Calendar Month, or Statement date)

 

hmtoggle_plus1Discount Percentage

The Maximum settlement discount percentage is 99.99%.  If the discount percentage is greater than zero, the Expected Settlement Days field is mandatory.

 

hmtoggle_plus1Expected Settlement Days

It is the settlement days that will be applied on purchase orders and customer orders.

 

The settlement days must be between 0 and 180 days. Functions referencing this setting include the following:

External Organisation

Customer Orders

Released Purchase Order Generation

Creditors

 

hmtoggle_plus1Expected Settlement Date From

This field specifies from which date should the expected settlement date be calculated.  (i.e. Invoice Date, End of the Week, End of financial Month or End of Calendar Month, or Statement Date)