Maintain Payment Terms {FPMO5-7}

This option allows the maintenance of Payment Terms on documents.

The user must be linked to the Access code FPCY - "PMIS PAYMENT TERMS ACCESS" {FCSM-4} to maintain Payment Terms in this option.

To maintain the Payment Terms on a document the user must query the document and maintain the settlement discount percenatge and effective payment date.Payment terms can only be maintained on documents not already linked to a payment. All fields on the first block of this option is queryable , only the the fields payment percentage and effective payement date on block 2 are updateable.

Block 1: Payment Terms: Documents

Field	Type & Length	Description
Document Number	A15	The document on which the Payment Terms are to be maintened. Pop up Menu - available on field Document Number. Document Detail - Selecting the option drills down to the Document Detail screen.
Document Type	A2	The document type of the document on which the Payment Terms are to be maintened. The following document types exist. CN - CR Note IN - Invocie PP - Payment CJ - Journal DR CR - Repeating Credit Note IJ - Journal CR IR - Repeating Invoice AP - Cancel Payment CD - Debit Corrections CM - Cancel Note IC - Cancel Invoice II - Credit Correction
Creditor and Name	N9	The creditor of the document on which the Payment Terms are to be maintened.
Process Date	DD-MON-YYYY MI	The process date of the document on which the Payment Terms are to be maintened.
Document Date	DD-MON-YYYY	The document date of the document on which the Payment Terms are to be maintened.
Year	YYYY	The year of the document on which the Payment Terms are to be maintened.
Cycle	MM	The cycle of the document on which the Payment Terms are to be maintened..
Given Currency	N15.2	The total of the document in foreign currency of the document on which the Payment Terms are to be maintened..
Local Value	N15.2	The total of the document before VAT in local currency of the document on which the Payment Terms are to be maintened..
VAT	N15.2	The total for VAT of the document in local currency of the document on which the Payment Terms are to be maintened...
Value	N15.2	The total of the document in local currency of the document on which the Payment Terms are to be maintened..

Example:

Block 1: Payment Terms: Items

Field	Type & Length	Description
Item Description	A4000	This field displays the item description of the items for which payment terms may be maintained.
Unit	A8	Displays the eight-character description of the item unit, e.g. Kg, Litre, etc.
Financing	A1	Displays the financing method used on the item. The system supports the following relationships: Quantity - Each GLA will finance a specific number of units. Percentage - Each GLA will finance a percentage of the total cost of the item irrespective of the number of units. Cost - Each GLA will finance an advice amount of the total cost of the item irrespective of the number of units. Total cost implies the item quantity multiplied by the VAT inclusive unit price of the item in creditor currency.
Value	N15.2	The item total of in local currency.
Payment Terms	A3	Display the Payment Term code as defined in option {FPMC-4} linked to the item when the document was created. Linked to the payment terms code is the payment percentage and effective payment date. Payement terms are not updateable. The payment percentage is used to calculated the settlemnt discount if the item is paid on or before the the effective payment date.
Payment Percentage	N3.2	The payment percentage as entered on the item when the document was created.The user can update the percentage. The payment percentage will be used to calculate settlement discount should the item is paid on or before the effective payment date . Pop up Menu - available on field Payment Percentage Financial Item Detail - Selecting the option drills down to the Financial Item Detail screen.
Effective Payment Date	DD-MON-YYYY	The effective payment date as entered on the item when the document was created. The system calculates this date using the document date whern a document is captured as follows, If the payment term is "number of days after invoice", the system will add the days to the document date. If the payment term is "number of days after statement", the system will add the days to the first statement after the document date. The system defaults the effective payment date when a document is captured but the date is updateable by the user.. If the item is paid on or before the effective payment date settlement discount will be calculated using the payment percentage. NB. ITEMS OF A DOCUMENT MAY HAVE DIFFERENT PAYMENT INFORMATION.

Example:

Processing Rules
	No special processing rules

Date	System Version	By Whom	Job	Description
03-Dec-2007	v01.0.0.0	Kobus Kleinhans	t144148	New manual format.
18-Mar-2009	v01.0.0.1	Marchand Hildebrand	t152121	Proof Read System Owner.