Overview:

The term is the period of payment to a supplier or from a customer. This function is useful for generating various reports, such as Supplier/Customer Aging.

Procedure:

How to Create Terms 

1. In the Navigation pane, go to Company >  Maintenance > Terms, then click Add.

2. Supply the fields with data;

• Code: This is a compulsory field with a maximum length of 20 alphanumeric characters.

• Description: This is a compulsory field in which you need to indicate the name of the terms. 

• Type: This is used to determine whether the term is due in days or months.

• Days: Depending on the Type, the number of days or months

• Default: This is a function that allows you to set the area as default in supplier and customer maintenance.

3. Once done, click Submit

How to Edit Terms

1. In Payment Terms List View, click Term Code to open.

2.  Then supply the fields that need to be edited. Once done, click Submit

How to Delete Terms 

1. In Terms List View, tick the checkbox beside the item you wish to delete, then click Delete.

2. When the confirmation message prompted, click Confirm Delete.

Note: Term deletion is allowed as long as it is not used in any transactions and is not associated with any customer or supplier.

Application:

 The term can now be used in Customer and Supplier Maintenance.

System Scope: QNE AI Cloud Accounting / N3 AI Accounting