Configuring HQ Payment Terms

HQ Payment Terms define discount and due-date rules used by Accounts Payable, Accounts Receivable, Job Billing, and Material Sales. Assign terms on vendors, customers, or contracts as needed.

Before you start

• Know your standard discount and net terms.

Steps

1. Open HQ Payment Terms.
2. Enter discount percent and either days until discount or a specific discount day.
3. Set due date calculation: days until due, or a specific due day.
4. Optionally set a cutoff day and months to roll ahead after the cutoff.
5. Assign the terms to vendors, customers, or contracts where they apply.

Starter set for new companies

Common starter codes (reference table). Verify each code with Calc Dates / Sample Defaults so calculation matches the label.

Which subset to load, when to load it, and vendor/customer default assignment live on the HQ Payment Terms Tracker page.

Net days (N):

• N10 - Net 10 days
• N15 - Net 15 days
• N20 - Net 20 days
• N25 - Net 25 days
• N30 - Net 30 days
• N45 - Net 45 days
• N60 - Net 60 days
• N75 - Net 75 days
• N90 - Net 90 days
• N120 - Net 120 days

Due day of month (D):

• D10 - Due 10th
• D15 - Due 15th
• D20 - Due 20th
• D25 - Due 25th
• D30 - Due 30th
• D45 - Due 45th
• D60 - Due 60th
• D75 - Due 75th
• D90 - Due 90th
• D120 - Due 120th

Common discounts (R):

• R1N10N30 - 1% 10 days, Net 30
• R2N10N30 - 2% 10 days, Net 30
• R1D10N30 - 1% 10th, Net 30
• R2D10N30 - 2% 10th, Net 30
• R2N10N45 - 2% 10 days, Net 45
• R2D10N45 - 2% 10th, Net 45

Specials:

• COD - Cash on delivery
• PREPAY - Prepay / payment in advance
• PWP - Pay when paid
• 00 - Due on receipt

Notes

• Terms assigned on vendors, customers, or contracts serve as defaults. When posting, the invoice or transaction date drives the calculated discount and due dates, which can be overridden.
• Use the form's Calc Dates and Sample Defaults controls to test how a terms code calculates dates.
• Wrong cutoff / roll-ahead settings shift due dates unexpectedly.