| # Terms of Payment by Business Partner (tccom1150m000) Use this session to display an overview of the terms of payment that you defined for the invoice-to business partner and invoice-from business partner roles. Related topics Due date calculation How LN determines the applicable bank charges Business Partner A party with whom you carry out business transactions, for example, a customer or a supplier. You can also define departments within your organization that act as customers or suppliers to your own department as business partners. The business partner definition includes: The organization's name and main address. The language and currency used. Taxation and legal identification data. You address the business partner in the person of the business partner's contact. The business-partner status determines if you can carry out transactions. The transactions type (sales orders, invoices, payments, shipments) is defined by the business partner's role. Terms of Payment Agreements about the way in which invoices are paid. The terms of payment include: The period within which invoices must be paid. The discount granted if an invoice is paid within a given period The terms of payment allow you to calculate: The date on which the payment is due The date on which the discount periods expire The discount amount Payment Schedule Header Agreements about the amounts that must be paid by payment period. You can link a payment schedule to the terms of payment and, in this way, to sales invoices and purchase invoices. Each line of the payment schedule defines a part of the invoice amount that must be paid within a specific period, the payment method used for the payment, and the discount conditions that apply to the payment. Note In many sessions, 'payment schedule' refers to a payment schedule line. If you use receipts against shipments, 'payment schedule' refers to a shipment. Related topics How LN determines the applicable bank charges Payment Period The number of days or months that LN adds to the invoice document date before or after calculating the due date to obtain the actual due date. Related topics Due date calculation Payment Period The unit of the payment period. Terms of Payment Agreements about the way in which invoices are paid. The terms of payment include: The period within which invoices must be paid. The discount granted if an invoice is paid within a given period The terms of payment allow you to calculate: The date on which the payment is due The date on which the discount periods expire The discount amount Invoice-to Business Partner The invoice-from business partner or invoice-to business partner to which the terms of payment are linked. |