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Payment Terms Codes [FL]

Payment Terms Codes​

From the DockMaster menu, select File Maintenance > Payment Terms Codes

Payment Terms Codes are used to define the different invoice terms for A/R Customers and A/P Vendors. The Terms Codes control the discounts, the discount due dates, and the invoice due dates extended to a customer by you or to you by a vendor. These codes are attached to a customer through the Customer File and to a vendor through the Vendor File.

Note: Each customer and vendor can only have one default payment term code.

Whenever you enter an invoice transaction for a customer or vendor in the DockMaster system, the payment terms are applied and a due date is calculated.

Below are some examples of commonly used codes:
30 Net Due 30 Days 00 Due Upon Receipt
10 Net Due 10 Days 230 2/10, Net 30 Days

  • Payment Terms Code - Enter any combination of up to 3 letters or numbers or press F6 to get a list of existing codes.
  • Description - Enter a Description of the code.
  • Due - Enter the number of days until the first payment is due (i.e. 10, 15, 30) or the day of the month that the payment is due (i.e. 1st, 22nd, 30th).
  • Click on the 'th of the Month' or 'Days from Invoice Date' radio buttons to differentiate the calculation method to the computer. The ‘th of the Month’ signifies that the days entered in the Due box is the actual day of the month the payment is due; the ‘Days from Invoice Date’ signifies that the days entered in the Due box are the number of days until the payment is due.