E1: FIN: How To Set Up Standard and Advanced Payment Terms in the JD Edwards EnterpriseOne Financial System (P0014, P00145, P00146, R005142, R005141)
(Doc ID 1411304.1)
Last updated on DECEMBER 13, 2022
Applies to:
JD Edwards EnterpriseOne Accounts Receivable - Version XE and later JD Edwards EnterpriseOne Accounts Payable - Version XE and later Information in this document applies to any platform.
Purpose
Overview of Payment Terms and Advanced Payment Terms
Payment terms are used by the JD Edwards EnterpriseOne Accounts Payable and Accounts Receivable systems to specify a payment due date and, optionally, a discount percent and discount due date. The system uses Payment Terms to calculate the due dates and discounts on vouchers and invoices for efficient transaction entry.
Each customer and supplier may have a default Payment Term defined that are used automatically when creating a voucher or invoice. The default value can be accepted or overridden with a different Payment Term.
Payment Term Codes can range from simple to complex, depending on your organization's policies.Payment Terms can be defined by using a one-, two-, or three-character combination of these types of characters:
Alphabetic (A-ZZZ)
Numeric (0-999)
Special characters (including blank)
For example, you might use A1%, which combines all three types of characters, for a percentage Payment Term Code. The JD Edwards EnterpriseOne Accounts Payable and Accounts Receivable modules use the same payment terms.
Scope
This document is intended for users who are setting up and revising Payment Terms to be used in the Accounts Payable and Accounts Receivable modules.
Details
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