|The default credit terms will automatically be applied to every new card that is setup for your customers and suppliers. To set specific terms for individual debtors/creditors:|
- Open the customer or supplier's card.
- Click Selling Details or Buying Details (as applicable). The terms for that card will appear in the lower portion of the window.
- Modify the terms for the customer/supplier. Refer to the field definitions above for details.
- Click OK.
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|Invoices and Bills created from this point on will inherit the updated Terms. |
If I change the default terms, will it change the terms on all my customer or supplier cards?
Changing the default terms won't change the terms on your existing customer and supplier cards. The new term settings will only apply to customer or supplier cards that are created after the default terms are changed.
If I change the terms for one of my customers or suppliers, will those changes carry through to sales or purchases that have already been recorded using that card?
Changing the terms of a customer or supplier's card won't affect the terms of invoices or purchases that have already been recorded. The changes will only apply to sales or purchases that are recorded after the change.
How do I change the terms on invoices and purchase orders?
With the invoice or purchase order open, click the arrow next to Terms at the top of the window. This will open the Terms Information window where the terms for this transaction can be changed.
After changing the terms and closing the Terms Information window, click OK to save the changes and close the transaction.
How is the discount apportioned?
Discounts applied to Invoices or Bills are apportioned over each of the line entries of those transactions. At the same time, the software creates, records, and applies the adjustment note to relevant Invoice or Bill.
The window below shows an Invoice with three line entries, and allows for a 5% Discount if paid before 8/8/2012.
Using this example, we will see how discounts are apportioned to the individual line entries, and how that affects the GST.
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|The invoice is shown as GST/Tax Exclusive. The same principles also apply to purchase discounts. |