Term Type - Weekly

Yahoo Archive
1
Thanks - we figured it out - sort of.

Randy

--- In vantage@yahoogroups.com, Sylvia Hunts <shunts@...> wrote:
>
> Hi Randy:
> Where the Terms type weekly becomes important is if you are planning to do Auto invoicing. In that case the type has to be weekly and the billing days have to be "all days".
> I have really not run across any other part where this becomes important.
>
> Hope that helps
>
> Sylvia
>
> From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of randyweb
> Sent: Thursday, June 23, 2011 11:53 AM
> To: vantage@yahoogroups.com
> Subject: [Vantage] Term Type - Weekly
>
>
>
> v 9.05.604a
>
> Can someone explain to me what Customer Terms Type is and why we need to use Weekly. This is what we were told to use in training, but it seems counterintuitive.
>
> In this case, the terms are 2%10 NET-30. Does the product automatically apply the 2% discount if we cut a check within ten days?
>
> How does Weekly apply? I need to explain to my CFO, and I don't blame her for wanting an explanation since we pay our suppliers either on the due date, or sooner if there is a discount - not weekly.
>
> Also, with Suppliers, the Terms Type is completely different. Possibly someone could explain this too.
>
> Thanks in advance.
>
> Randy Weber
>
>
>
> [Non-text portions of this message have been removed]
>
2
v 9.05.604a

Can someone explain to me what Customer Terms Type is and why we need to use Weekly. This is what we were told to use in training, but it seems counterintuitive.

In this case, the terms are 2%10 NET-30. Does the product automatically apply the 2% discount if we cut a check within ten days?

How does Weekly apply? I need to explain to my CFO, and I don't blame her for wanting an explanation since we pay our suppliers either on the due date, or sooner if there is a discount - not weekly.

Also, with Suppliers, the Terms Type is completely different. Possibly someone could explain this too.

Thanks in advance.

Randy Weber
3
If its the field on the customer table where you get to choose Weekly/Monthly then DEFINATELY leave it as weekly with a day as ANY.

People often confuse this as payment terms and set it to the Monthly and 31st.
The field actually controls WHEN you can CREATE an INVOICE.
I've had the accounts team spend hours trying to figure out why they couldn't process a customer just to find out someone has changed it to monthly.
To be able to process a customer anytime during the month leave it as WEEKLY and ANY.

Regards

Wayne




--- In vantage@yahoogroups.com, "randyweb" <weber.randy@...> wrote:
>
> v 9.05.604a
>
> Can someone explain to me what Customer Terms Type is and why we need to use Weekly. This is what we were told to use in training, but it seems counterintuitive.
>
> In this case, the terms are 2%10 NET-30. Does the product automatically apply the 2% discount if we cut a check within ten days?
>
> How does Weekly apply? I need to explain to my CFO, and I don't blame her for wanting an explanation since we pay our suppliers either on the due date, or sooner if there is a discount - not weekly.
>
> Also, with Suppliers, the Terms Type is completely different. Possibly someone could explain this too.
>
> Thanks in advance.
>
> Randy Weber
>
4
Hi Randy:
Where the Terms type weekly becomes important is if you are planning to do Auto invoicing. In that case the type has to be weekly and the billing days have to be "all days".
I have really not run across any other part where this becomes important.

Hope that helps

Sylvia

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of randyweb
Sent: Thursday, June 23, 2011 11:53 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Term Type - Weekly



v 9.05.604a

Can someone explain to me what Customer Terms Type is and why we need to use Weekly. This is what we were told to use in training, but it seems counterintuitive.

In this case, the terms are 2%10 NET-30. Does the product automatically apply the 2% discount if we cut a check within ten days?

How does Weekly apply? I need to explain to my CFO, and I don't blame her for wanting an explanation since we pay our suppliers either on the due date, or sooner if there is a discount - not weekly.

Also, with Suppliers, the Terms Type is completely different. Possibly someone could explain this too.

Thanks in advance.

Randy Weber



[Non-text portions of this message have been removed]