You are here: 1. Distribution System > 1.3. FILE Menu: Master File Maintenance > 1.3.4. File - Supplier > 1.3.4.8. File - Supplier - Terms

File - Supplier - Terms

If you are using the Micronet Creditors Ledger (MCL), then you need to enter trading terms for a supplier.

To enter a supplier’s trading terms:

  1. Add a new supplier or open an existing one.

Refer to "Adding a New Supplier" or "Updating a Supplier".

  1. Select the Terms tab.

Micronet displays the Supplier Update screen - Terms tab.

  1. Complete the following fields:

 

Field

Value

 

Payment Terms

Enter the invoice payment terms for this supplier in days, e.g. 30.

 

From

Select whether the payment terms apply from either Invoice (date) or EOM (end of month).

 

Discount Payment Terms

Enter the number of days that you have to pay any invoices to receive the Discount entered in the next field, e.g. 14.

 

Discount

Enter any discount percentage awarded for prompt payments, e.g. 2.5.

 

Invoices are normally

Select whether the supplier's invoices are normally:

  • Tax Inclusive – if you select this option, Micronet will calculate 10% GST on the total invoice amount, i.e. 1/11th of the total invoice amount. (To define the GST percentage, refer to "Edit Company - Edit - Tax Tables".)
  • Tax Exclusive – select this option for suppliers who do not charge GST, e.g. food distributors, medical services, import companies, etc.
  1. Select FILE | SAVE.
  1. Optionally, if you are using the Micronet Creditor’s Ledger (MCL), you should update the changes to the creditor in MCL by making sure that the EDIT | UPDATE CREDITOR menu option is checked.

For more information, refer to "Supplier Update Screen - Menu Options".