Payment Terms

Basic Payment Terms

Payment terms can be simple like Net 30 or complex like 2% 10 Net 30. COD, Prepay and Consignment are for special cases and can be used in reporting and filters types of sales.

Order Entry Payment Terms

The automatic passing of terms to the orders is dependent on the default setup.

If the order entry is limited to only one principal per order then, the following term rules apply. If the system is setup to allow more then one Principal product per order then the system defaults to the customer terms.

In addition, the automatic entry of terms is dependent on what is entered in the terms of the Principal, Customer and Customer/Principal table. The table below shows the terms that are automatically used to fill the order. In all cases, Customer or Customer/Principal terms take precedence over Principal terms. Principal terms are only transferred if Customer and Customer/Principal are empty.

Term 1

The order payment term is filled by default is filled based on the term entered on the customer record. The customer highlighted below shows Food Product Sales Company with a payment term of Net 45.

When a new order is entered and Food Product Sales Company is selected, the customer Payment Terms fills in with Net 45.

An order entered for a customer without a term entered in the Customer record will fill in a blank on the order.

For example, Dairy Co. does not have a term filled in.

Term 2

If the customer record is blank and principal chosen for a single principal order has a payment term, the order will automatically fill in the principal payment term.

The customer Dairy Co did not have a term when entered in the customer record.

If the Principal selected for the sale is Dresing Food Group which has a term of 2% 10 Net 30. The principal term will be used for the order.

Term 3

If both the customer and principal have a term entered in their respective records the order will default to the customer term.

For example customer Food Product Sales Compant has a payment term of Net 45 days. Principal Dresing Food Group has a term of 2% 10 Net 30. The order will default to the customer term of Net 45. You can see the default Payment term by letter preceding the Payment Term label. If it says C Payment Term then the default is customer. For P Payment Term it is principal.

Terms 4-6

Naviteer also accommodates Principal (Supplier) specific payment terms. In the customer record under the Accounting tab principal specific terms can be entered.

Here are specific terms for two principals under customer Big Boy Manufacturing.

For a single principal (only), the orders for Big Boy Manufacturing will default to 2% 10 Net 30 for purchases from Mushroom Cooperative. If any principal other than Mushroom Cooperative or Cereal Ink are chosen the payment term will default to Net 30.