PSA L&P - Vendors: How to add a vendor discount term and assign it to a vendor

How to set up vendor discount terms and assign them to a vendor

The software does not calculate or apply the terms discount.  However, you can set a term up and assign it to the vendor; that way at least the discount "reminder" will be displayed when you enter bills for that vendor. 

Set up vendor terms in Setup → Vendor Terms

To create a vendor term, go to Setup → Vendor Terms: Here you may add several possible vendor terms that can later be selected.

 

To assign the term to a vendor, go to Vendors and select the term that this vendor has agreed to in the corresponding field.

 

The bill will show the term and you may edit the bill amount to take into account the discount.

  • In the example below, the discount date is 12/27/2017. If the bill is paid on or before that date, you may take a 2% discount.
    terms_show_in_bill.png

 

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