Payment Terms Matrix

The Terms matrix provides the ability to define Payment Terms so the Due Date and Discount Date can be automatically calculated.  This matrix should contain a row for each Payment Term.  The Payment Term code will need to be included in the Vendor Master file or Open PO file that is transferred to DataServ.  This will depend upon your configuration. 

The Terms Matrix is available on the Dashboard under the Configuration tab.  

Then select "Matrix - Terms" from the left vertical menu:

In the example above, there is a Payment Term Code defined as "NT30".  This Term Code should be passed in one of the data files so it is either associated with a Vendor or a PO.

The Due Date and Discount Date fields will be calculated as follows:

• Due Date = Invoice Date + Days Net
• Discount Date = Invoice Date + Discount Days Net

To make changes to the matrix:

• To add a new row to the matrix
  • Click "Add Row"  
  • Click "Edit" to edit the row that was just added
  • Fill in the fields
  • Click "OK"
  • Click "Submit" to save the changes

• To delete a row from the matrix
  • Click the checkbox next to the row(s) that should be deleted
  • Click "Delete Row"
  • Click "Submit" to save the changes

• To edit a row in the matrix
  • Click "Edit" on the row that needs to be edited
  • Modify the fields that need to be changed  
  • Click "OK"
  • Click "Submit" to save the changes

For those with the Prox Terms Functionality

Sometimes a payment term may exist (like due on the 10th of the month or prox terms) that doesn't fit into our mold of days till discount and due date because it is variable based on the invoice date.

Terms Type Details whether the Terms Code is “Net” or “Prox”

Terms Code Payment Terms Code, which should reflect the terms codes listed in the on Vendor Master data

Due Days Net If a number is populated in this field, that number of days should be added to the Invoice Date or Indexed Date to calculate the Due Date.

Discount Days Due If a number is populated in this field, it should be used to calculate the number of days before a discount expires

Prox Day Due is an added field that should determine the day of the month an invoice is due. For example, a value of "15" in this field would indicate the invoice is due on the 15th of the month and the calculation should use this date to calculate the number of days before and invoice is due using the Invoice Date or the Indexed Date as the starting point.

Prox Month Due is an added field that should determine the month an invoice is due. For example, a value of "1" in this field would indicate the invoice is due the month 1 month after the invoice date (i.e. the month after) and the calculation should use this date to calculate the number of days before and invoice is due using Invoice Date or the Indexed Date as a starting point.