Create a Terms Code

System Location: Settings > Base Tables > Terms Codes

Terms Codes are used to calculate discount related information and net due dates for customer and vendor transactions.

For more information see Terms Codes.

  1. Click the Settings button.Settings_Button
  2. Open the Base Tables dropdown menu.
  3. Select Terms Codes.
  4. Click New (located at the top of the page.)

Provide Values

Provide information for the fields listed below at a minimum to take advantage of JobBOSS2's reporting and analysis tools in addition to benefiting from its ability to pass information along from one part of the software to another.

An asterisk [*] indicates a required field.

  1. Provide information as appropriate:
    • *Terms Code: Should indicate the terms being offered
    • Description: Appears on Terms Code Navigator and various reports for reference
    • *Discount Percentage: Amount of discount being offered
    • *Discount Period (Days): Number of days within which the invoice must be paid in order to receive the stated discount
    • *Late Charge Percentage: Amount of the penalty to assess on AR invoices if they are not paid within the stated net due period
    • *Net Due Period (Days): Number of days within which the invoice must be paid before it is considered to be late
    • *Method of Calculation: Determines how the Discount Period and Net Due Period values are used to calculate Due Dates and Discount Dates on AR and AP invoices
      • Method 1: Uses the Invoice date and adds the number of days from the Discount Period and Net Due Period fields to calculate the Discount Date and Due Date, respectively
      • Method 2: Assigns the value entered in the Discount Period and Net Due Period fields as the Discount Date and Due Date, respectively
  2. Click 'Save' to save and close the record.
    1. Use the Save dropdown menu if you want to create a new record or print a report upon saving.