Payment terms are used in purchase invoicing to manage due dates and the calculation of possible payment discounts.
You can set up any number of payment terms codes and use date formulas to define the payment terms.
Open the Payment Terms window.
Press F3 to set up a new code.
On each line, fill in the various fields. For Help about a specific field, click the field and press F1.
The payment terms are also used in the Sales & Receivables application area. Therefore, changing the payment terms codes will also take effect in the Sales & Receivables application area.
Assigning Payment Terms to Vendors