Change the Terms for a Purchase

How Do I...

The Terms box lets you change the terms and discount information this vendor offers. Terms and discount information can be entered in each Maintain Vendors record although standard terms are set in the Vendor Defaults window.

Always set the discount information in the Maintain Vendor record so the program will track and calculate the discount for you. Only use these boxes on the Purchases form for special, one-time circumstances.

1. Select the arrow button next to the Terms field.
2. Enter a new discount date if you want to override the one displayed.
3. Enter a new discount amount only if you want to change the discount for early payment.

Any other discounts that appear on the invoice must be entered as a credit in the distribution list in this window. Remember that any changes you make now to the distribution section will override the changes just made to the discount section.

This discount amount is recalculated every time the invoice amount changes, which is every time the distribution list changes. Therefore, if you want to enter a discount amount, you must do so after you have finished entering the entire purchase. Otherwise, it will be overwritten.

What do you want to do next?

• Enter a purchase invoice
• Receive inventory on a purchase order
• Pay vendors or enter payments for purchases
• Look up the current payment status of a purchase invoice
• Edit a record or transaction
• Set up a vendor
• Perform other accounts payable tasks
• Read the purchases/receive inventory overview

Published: March 21, 2017
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