Payment Terms Rate Schedules

Navigate: Tax > Accounts Receivable > Payment Terms Mapping and Setup > Payment Terms Rate Schedules

Description

Maintain payment terms rate schedules.

Steps

1. On the Maintain Payment Terms Rate Schedules screen, click New.

   OR

   Click Edit for an existing schedule.

2. On the Edit Payment Terms Rate Schedules screen, enter a short description and a description.

3. Select the Is flat amount checkbox if the rate schedule amount in the Rate schedule details panel is a value in dollars rather than a rate percentage. The billing date is then used to determine the rate schedule.

   NOTE: This checkbox may not apply to your jurisdiction. For example, Riverside, California, applies a Delinquent Cost (a one time, flat amount penalty that is charged when the 2nd installment is past the due date) that is in effect when the bill is created rather than after the 2nd installment due date.

4. Make a selection from the Rate in effect drop-down list.

5. In the Rate schedule details panel, enter or select an End Date.

6. Enter an amount or rate, depending on the Is flat amount checkbox, if applicable.

7. Click Save.

   • Click Cancel to discard your changes and return to the Maintain Payment Terms Rate Schedules screen.

   • Click Close to end the task.