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Next Generation - Populate the terms tab for a supplier record

Any trading terms granted to you by your suppliers should be recorded on terms.

Populate the Terms tab for a new supplier

  1. Click Creditors then click Suppliers.
    Note    : All suppliers are displayed for you. You can narrow down you search using advanced filters. You can also search on the columns directly by pointing the mouse to the name of the column and click on the icon and choose from the available filter list, then click OK.

  2. Click + New Record at the top right hand-side of the Customer Records screen.

  3. Click on the Terms tab and enter your agreed terms with your supplier.

  4. Click Save.

Populate the Terms tab for an existing supplier

  1. Click Creditors then click Suppliers.
    Note    : All suppliers are displayed for you. You can narrow down you search using advanced filters. You can also search on the columns directly by pointing the mouse to the name of the column and click on the icon and choose from the available filter list, then click OK.

  2. In the Code or Name column, click the hyperlink, the underlined text.
    ​Note: The Action Panel automatically opens from the right-hand-side of the screen. You can close the panel by clicking on the arrow icon on the right-hand side middle of the screen.

  3. Click on the Edit button at the bottom of the screen to set the record into edit mode, then click on the Terms tab, enter the agreed terms with your supplier and when you are done click Save.
    ​Note: If you can see the Close button instead of the Edit button, it means that you don't have access to edit supplier records.

The Terms tab contains five different sections which are:

  • Terms

  • Discount

  • Delivery Charge

  • Credit

  • Due and Anticipated Dates

Each section is explained below:
​

Section

Description

Terms

  • The Price Key field defaults to Price key 1 however you can change this. There are 10 price keys available for you to choose from.

  • Price keys are entered as Price Keys in the Stock module. The price key that you select displays in the Price Key field at the top of the terms screen.

  • Our Stock module enables you to enter 10 selling and buying prices for a product, with various pricing methods from fixed to uplifted or quantity.

  • If you have the Override Default Price Line option set in system for the Purchasing module, then price line settings from the terms may override if you select a zero price when you include a stock item in the order.

  • If you haven't selected the override option, then you can include zero prices in an order line, allowing the purchase of a free stock item.

Discount

  • Defaults to zero and you can edit this.

  • Settlement Discount 1 must have a higher percentage and lower number of days than Settlement Discount 2. For more information on settlement discounts, please refer to our Settlement discount for a supplier explained article.

Delivery Charge

  • If an entry is made in either field, Fixed or % of a sales order, the appropriate delivery charges add to the purchase order.

  • A confirmation message appears to confirm the addition of the delivery charge as you finish and save the purchase order.

  • If an entry is made in both fields, it uses the higher value.

Credit Section

  • If you enter a credit limit, the system warns you if a transaction you're entering exceeds the set limit set on the account.

  • When this warning appears, you have the option to ignore it and to continue adding purchase orders at your discretion.

  • When this warning appears, you have the option to ignore it and to continue taking sales invoices at your discretion.

  • You can use lead time to calculate the transaction required date for the header and detail line when entering a purchase order.

  • If no entry is made in the field, the required date calculated using the normal or urgent delivery times in the Purchase Order option in the System module.

  • Normal days are set as default for five days.

  • Urgent days are set as default for one day.

Due and Anticipated Days

  • Due Days - This is the number of days your supplier offered you. The number of days you enter, calculates the due date on invoices. The method of calculation can vary by selecting from the Due Days Type drop-down and the minimum value you can enter is one day.

  • Anticipated Days - This is the number of days credit you anticipate taking from the supplier.

  • Terms - Any message you enter in the Terms field prints on invoices, statements, and allows up to 40 alphanumeric characters.

Related Articles
Next Generation - Populate the details tab for a supplier record
Next Generation - Populate the Settings tab for a supplier record
Next Generation - Populate the terms tab for a customer record
Next Generation - Remittance BACS and Cheques and settlement discount calculations
Next Generation - Settlement discount for supplier in Creditors or purchase ledger explained
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