FrontAccounting forum — Supplier payment terms

Re: Supplier payment terms

null@example.com (apmuthu) — Thu, 08 Dec 2016 07:07:38 +0000

Service Invoices for appropriate days credit values can be created for the appropriate target dates.
A Quick Entry for corresponding credit as discount for the actual invoice to show the current payment can be passed as well.

Main Order / Invoice Items Portion:
Today:
Sales Cr 1000
Client Dr 300 (30% on order / invoice)
Dummy Discount Dr 700

On first payment:
Client Cr 300
Cash/Bank 300

On Expected Date:
Dummy Discount Cr 300
Client Dr 300 (30% on delivery)

On second payment:
Client Cr 300
Cash/Bank 300

90 days after delivery:
Dummy Discount Cr 400
Client Dr 400 (balance 40% settlement)

On final payment:
Client Cr 400
Cash/Bank 400

This way at anytime, the Dummy Discount Account will always show what needs to be got from the client after a later date.

Re: Supplier payment terms

null@example.com (samsa) — Wed, 07 Dec 2016 06:10:16 +0000

But how to set the payment due date which is different under each term as explained in my question above since only one payment term is applicable on individual supplier in purchase order? In other words, purchase order amount can't split according to payment due date unless manual entry/adjustment in A/P.

Hope it's clear.

Re: Supplier payment terms

null@example.com (apmuthu) — Tue, 06 Dec 2016 15:12:07 +0000

All the said terms can be placed together as a single term in FA and the actual can be done on local discretion.

Supplier payment terms

null@example.com (samsa) — Tue, 06 Dec 2016 11:23:38 +0000

Is there any way to manage multiple payment terms in a single purchase order and appear in A/P (Supplier payment)?
eg:
po #1 total amount 100k
30% advance payment (at the time of placing order)
30% upon delivery (expected date)
40% credit 90 days (from PO date)

Thanks for reply!