Payment Term

Payment Terms describe the due date for payments, discounts available and so on.

You can New, Delete, or Edit a Payment Term.

If you add a new payment term to the Procurement application, it must be one recognized by the Commerce One MarketSite software.

New

1. Click Setup | Payments | Payment Terms.

The Advanced Administration Application displays the Payment Terms form displaying all current Payment Terms with their Short and Long Descriptions.

2. Click [New Payment Term].

The Advanced Administration Application displays the New Payment Term form.

3. Click in each of the text boxes, and type (at the insertion point):
• Short Description of the payment terms
• Long Description to be viewed by the user (maximum 255 characters)
• Commerce One Code, an identifier recognized by the Commerce One MarketSite software
• Commerce One Description , a standard brief description recognized by the Commerce One MarketSite software (a maximum of 255 characters)
• Discount Percent to be given, if payment is received within a specified period of time
• Discount Days Due number days in which payment must be received, in order to qualify for a discount
• Discount Time Reference allowed number of days
• Discount Due Date (mm/dd/yyyy) due date for discount
• Net Days Due to receive payment
• Net Time Reference for Net Days Due
4. Click:
• [Save] to save the new payment term and leave the New Payment Term form, or
• [Cancel] to leave the New Payment Term form without adding a new payment term.

Delete

1. Click Setup | Payments | Payment Terms.

The Advanced Administration Application displays the Payment Terms form displaying all current Payment Terms with their Short and Long Descriptions.

2. Click the Short Description hyperlink to sort the list in Short Description order.
3. Click Delete beside a Payment Term to remove it from the database.

The Advanced Administration Application requests confirmation before removing the Payment Term.

Edit

1. Click Setup | Payments | Payment Terms.

The Advanced Administration Application displays the Payment Terms form displaying all current Payment Terms with their Short and Long Descriptions.

2. Click the Short Description hyperlink to sort the list in Short Description order.
3. Click:
• Delete beside a Payment Term to Delete it from the database or
• Edit beside a Payment Term to change it.

If you selected Edit, The Advanced Administration Application displays the Edit Payment Term form.

4. Enter (or change) the same information you entered to New a Payment Term.
5. Click:
• [Save] to save the modified payment term and leave the Edit Payment Term form, or
• [Cancel] to leave the Edit Payment Term form without making any changes.