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Reply from VidhyaDhar on Nov 14 at 2:10 AM Hi Waza
Thanks so much. I was not too sure myself if installment payment term would
work. I have seen an installment payment term splitting the invoice amount
into smaller multi-line amounts to be handled one line at a time as
required. The current requirement does not seem to be that.
I guess numerous payment terms would have to be created (30 of them for the
current requirement each of which reduces the discount by 0.233 for 30
days.) What if there were a need for creating multiple such sets of
payment terms ( say 10 % reducing by a definite amount for say 15 days )
varying with each business partner ? Moreover, as you have rightly pointed
out, things can get even more complicated if part and residual payments
occur.
I do not think the concept of creating multiple payment terms is cost
effective at all. Is there any industry which applies and enjoys has a
practical utility value of considerable significance through the adoption
of such a complicated method ? I wonder.
Regards
VidhyaDhar
| | | ---------------Original Message---------------
From: wnash7658
Sent: Tuesday, November 13, 2012 11:25 PM
Subject: Prompt Payment Discount Variable Daily
Installment won't work as the payment is not due over periods of time, just reduces over time.
Suggestion:
If this is expected to be a standard requirement from business then create the needed payment terms .... might be a few hundred I guess and maybe use an over night program to change the payment terms in documents with these payment terms that have not been receipted and cleared. So it would be important in considering residual payments and under-payments!!
Z001 7%
Z002 7% - .233
Z003 &% - .466
Regards
Waza |
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