A description of each field follows.

**Payment Terms Code
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**Enter a unique code to identify the payment terms. This code is entered on the customer master screen as the default payment terms for the customer. The terms code entered on the invoice screen determines the due date, discount date, and discount amount. Examples of payment terms codes would be: **2/10,n/30 **or **n/30**.

**Payment Period in Days
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**Enter here the maximum time in days allowed for payment. For example, if the terms allowed 30 days for payment as with the terms **2/10,n/30**, a **30 **would be entered. This number is used to calculate the due date of the invoice.

**Discount Percent
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**If the terms allow a discount for early payment, enter the percent of the discount here. Again, using the example terms **2/10,n/30,** a **2** would be entered. The percent is used to calculate the amount of the discount.

**Discount Period in Days
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**Enter here the maximum number of days in which payment can be made and still qualify for the discount. Using the terms **2/10,n/30 **as an example, **10 **would be entered. This value is used to calculate the discount date.

Values must be entered into the **Payment Terms Code **and the **Payment Period in Days **fields. The discount fields are optional and are only used if the terms include a discount for early payment.

When entering payment terms, be sure to include one that has no discount (i.e., n/30). This will simplify the entry of customer balances.