Field

Description

Invoice Charge Amount Type

This setting controls whether the amount specified in the Charge Amount field is considered a Flat rate or a Percentage. 

Branch

 Select a branch that this record will be applied to.  Invoices for orders belonging to this branch will have this invoice term record applied to them. 

Important:

There can only be one Invoice Terms record for each branch.

Manages branch records through Branch Setup.

Days Due

This is the number of days that is added to the invoice date to compute the Due Date and the “After mm/dd/ccyy pay” statement that appears on invoices.

Charge Amount

This value is interpreted as either a percentage or a flat dollar amount depending on the Charge Amount Type.  The amount computed as a result is added to the invoice Amount Due to compute the late payment fee as displayed after the “After mm/dd/ccyy pay” statement on the invoice.

Enter a numeric value up to 9 digits in length, including decimal place.

If the record type is Percentage and the Charge Amount is “1.5”, then the amount of the charge displayed on the invoice will be 1.5% of the invoice amount. 

For a Flat type, the amount entered will be applied as the amount of the charge.

Minimum Charge

Enter the minimum amount of the late charge that is added to the Amount Due to compute the late charge amount.  If this amount is greater than that computed using the Charge Amount, then the Minimum Charge will be added to the Amount Due, as displayed as part of the “After mm/dd/ccyy pay” statement on the invoice.

Conditions

Enter the text description of the charges that will be applied under these terms (up to 256 characters).