Attaché uses customer payment terms and days to age transactions. (Initially, the software sets the fields to the values specified in Customer Options.)
You can set the Payment Terms for each customer required from the Customers, Masterfiles, Customers, Maintain, Account Details tab specify the typical payment terms for the customer. The related fields are Payment Terms and Days.
If you need to edit the payment terms, you should change them after month end so there is a clear delineation in the changes from the previous month (period).
The Payment Terms values and related days treatment are listed in the table below.
Payment Terms | Meaning | Treatment of Days field |
COD | Cash On Delivery. Each invoice’s due date is set to its issue date. | The software ignores the Days field. |
Set day of month | Each invoice’s due date is the next occurrence of the calendar day specified in the Days field. For example, if you set Days to 20, invoices issued up to the 20th of each month are due on the 20th, and invoices issued after the 20th are due on the 20th of the following month. | If the Days field is greater than the last day of the month, the due date is the last day of the month. For example, if you set Days to 40, invoices issued in September are due on September 30th. |
Set day of next month | Each invoice’s due date is the specified calendar day of the month after issue. For example, if you set Days to 20, invoices issued in September are due on October 20th. | If the Days field is greater than the last day of the due month, the due date is the last day of the that month. For example, if you set Days to 40, invoices issued in September are due on October 31st. |
Number of days | Each invoice’s due date is set by adding Days to the issue date. For example, if you set Days to 40, invoices issued on September 10th are due on October 20th. | Days can vary from 0 to 999. If you set Days to 0, the effect is the same as setting Payment Terms to COD. |
Number of days after month end | Each invoice’s due date is set by adding Days to the last day of the issue month. For example, if you set Days to 40, invoices issued in September are due on November 9th. | Days can vary from 0 to 999. If you set Days to 0, the due date is the last day of the month. |