Vendor Terms

The Vendor Terms File contains the different terms of payment you have for each Vendor from which you purchase inventory.

Terms are used by the Vendor File and the Purchase Order option to assign the payment terms normally required by a particular vendor. The terms entered in this file are listed in the drop-down box in the Vendor File.

This is an example of (3) three terms records. Terms records are displayed in a grid.

To add a vendor terms record

Click the ADD button at the top of the vendor terms form. Fill in the fields in each column according to the descriptions below.

FIELD DESCRIPTIONS - TERMS
Code	This column contains the (3) three character code you assign to each terms record.
Name	This is the name you assign to each terms record.
Due Days	This column contains the number of days you are allowed to pay the discounted amount.
Discount	This discount refers to the percentage of discount the vendor allows for paying this invoice early.

To print a file listing

Click the PRINT button at the top of the form to print a list of the file displayed.

Some frequently asked questions: (click each question for answer)

•	What is a term?

A term is a record that defines how a vendor requires your company to pay for their products. A term record could be Net 30 Days, or Net 10 / 2. Terms are attached to the vendor record. When this vendor is chosen on a purchase order the system automatically attaches these terms to the purchase order by default.