Jim2® Business Engine Help File

Payment Code

The code for the payment term that will be selected in customer and vendor card files.

Payment Description

Description of the payment terms. This will be displayed on reports.

Payment is Due

There are six possible choices for this field. Choose from the drop-down list:

▪C.O.D. The balance of the invoice is due on delivery.

▪Prepaid. The balance of the invoice is due at the time of completion of the invoice.

▪In a given # of Days. The payment due date and discount date are based on a number of days after the invoice date, ie. 30 days.

▪On a Day of the Month. The payment due date and discount date are based on a particular day of the month, and the date must be specified.

▪# of days after EOM. The payment due date and discount date are based on a number of days after the end of the month.

▪Day of Month after EOM. The payment due date and discount date are based on a specific date in the month after which the invoice was recorded.

Discount Date/Discount Days

Depends on the Payment is Due choice above. Discount Date is the date up to which the discount will be given, if paid on or before that date. Discount Days is the number of days after the invoice date that a discount will be given, if paid on or before the appropriate date.

Balance Due Days

The number of days from the date of the invoice that payment becomes due.

Discount For Early Payment %

The discount (%) applied if payment is made within the discount days for this payment term.

Account Fee %

The percentage of the amount owed that you want to charge if a payment is not received by the due date.

Show for Customers/Vendors

Tick to display this payment term in the drop-down list of a card file list.