This activity is used to enter payment terms that are used in IFS/Invoice and IFS/Payment. This mandatory task is to be performed by a system administrator or equivalent person. You will also have to enter payment term details on the payment term you entered by right-clicking on the payment term line and selecting Payment Term Details. Otherwise, the payment term will not be possible to be used in the system.
Payment terms are used when you enter customer and supplier invoices for calculation of the due dates for the invoices. The payment terms set for a customer or supplier will be suggested when invoices are entered. You can change any default payment terms shown for either customer or supplier.
When the system is installed, payment terms are created automatically depending on the template used when creating the company.
This activity has the following prerequisites:
As a result of this activity: