FAQ #: 82
I want to offer my customer special terms on an invoice that would allow them to pay me multiple payments over a period of several months.
You can use what is known as the "Extended" terms code to accomplish this. You must first setup the terms code you want to use by going to System Management-->ANSWERS Software Maintenance-->Codes File Maintenance. The code will consist of 3 characters. The first character must be an "E" to indicate the you want "extended" terms. The second character must be a 0-9, or A, B, or C. This code indicates how long you want to defer (delay payament) of the first payment. If you want the first payment due in the current month, then you would enter a 0. If you wanted it to start next month, you would enter a 1, etc. Codes A, B, and C are used to defer for 10, 11, and 12 months repsectively. The third character in the terms code is the number of payments you want to break the invoice into. For example to offer a customer 3 payments over a 30/60/90 period, the third character would be a 3. You can enter any number of payments from 2-9, or A, B, or C. As with the deferred code, the A, B, and C are used to indicate 10, 11, and 12 payments respectively. Now suppose you want to offer your customer 3 months to pay in 3 equal payments starting with the first payment being due next month, you would setup a terms code of E13. If you place this terms code on their sales order, then the O/P Invoice Register will divide the invoice into the number of payments requested and write out an invoice record with the appropriate deferred terms code for each of the separate payment amounts.