Terms 8%/10 EOM
This usually means the customer gets an 8% Discount if they pay by the end of the month, or by the 10th of the next month if the invoice is dated after the 20th of the month.
Go to Menus > Maintenance > User Lists > Customer/Vendor Terms > Click Insert
Enter Terms code and description.
Days Until Late = 30
Discount Rate = 8%
Discount Date = 10
To process this type of payment, If the customer takes the discount, go to commands > receive payment.
When receiving payment, if there is a discount rate in the terms, after processing the payment you will be prompted to apply a discount.
The user must determine if the discount is valid or not.
User will be prompted to enter the discount amount, in dollars, to apply to each invoice.