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Payment details (sales account)

Use the Payment tab to enter or amend the settlement discount and payment terms for the customer. You also set the customer account type here.

To enter your payment details

Open: Sales Ledger > Sales Accounts > Enter New Account | Payment.

Open: Sales Ledger > Sales Accounts > Amend Account Details.

• Select existing customer account reference.
• Select Payment tab.

1. Select the Account Type.

   Select the Account Type from the drop-down list.

   Use the Account types to decide how transactions are stored on individual accounts. You can use all three account types in any mix. Use the account types to balance your need for a detailed breakdown of transactions with your need to save disk space.

   The default account type is open item.

   Open Item

   With this option, transactions remain on the account until they are archived or removed.

   For On Premise deployments only

   Transactions that are fully allocated, and that have exceeded the number of months specified to keep transactions for, are archived or removed when the relevant Account Maintenance option is run.

   • If you have selected to archive your transactions in the Ledger settings, the transactions are moved to an archive file. Once archived they can be viewed on the relevant archived Transaction Enquiry screens and historical reports.
   • If you have not chosen to archive your transactions, they are permanently removed from the Sage 200 database.

   For example: You have chosen to keep your transactions for 3 months for all of your Accounts. You enter the Archive up to date as 30 November. All allocated transactions dated prior to 01 September are archived or deleted.

   All outstanding transactions are kept, regardless of their age. Outstanding transactions are:

   • Part allocated payments.
   • Disputed transactions.
   • Unpaid invoices.
   • Part paid invoices.

   Auto Allocation

   With Automatic Allocation accounts any credit notes, payments or receipts are allocated to invoices when the relevant Account Maintenance option is run. The oldest outstanding invoices are allocated first. Queried invoices are not allocated.

   Any debits or credits that are not allocated are carried over into the new period. If the transaction values do match exactly, the transactions are part-allocated.

   For On Premise deployments only:

   Transactions that are fully allocated, and that have exceeded the number of months specified to keep transactions for can be archived or removed.

   • If you have selected to archive your transactions in the Ledger settings, the transactions are moved to an archive file. Once archived they can be viewed on the archived transaction enquiry screens and historical reports.
   • If you have not chosen to archive your transactions, they are permanently removed from the Sage 200 database.

   Balance forward.

   With Balance Forward accounts, individual transactions are removed and replaced with a bought forward balance for each accounting period. The bought forward balance is created, when the relevant Account Maintenance option is run.

   Each period's total balance is carried forward as a single balance figure and so the number of balances carried forward depends on the number of accounting periods that you have.

   When transactions such as payments are posted for a previous period, they are allocated by period number, so the appropriate balance is amended. Queried transactions are kept on the account.

   The advantage of this type of accounting is its economical use of disk space.

   Balance forward accounts cannot be used for foreign currency accounts.

   You can change a customer account from one type to another. If you change a balance forward account to open item, you will only be able to view details for transactions entered after you made the change.

2. Enter the Settlement discount.

   • Enter the Settlement discount percentage you offer the customer.
   • Enter the number of days that customer has to pay in to qualify for the discount, in the if paid in box.

   These will default to the discount entered in the Sales Ledger settings.

3. Enter the Payment terms

   This is used to calculate the Due Date for an invoice.

   Enter the number of days and select the date the payment terms start from the from drop-down list.

   These will default to the payment terms you entered in the Sales Ledger settings.

   About Payment terms

   Document date

   Invoices are due the specified number of days after the invoice date.

   For example, if the Number of days is set to 15 and you enter an invoice with an invoice date of 03/10/2012, the due date for the invoice will be 18/10/2012.

   Start of month

   Invoices are due the specified number of days after the start of the month in which an invoice is dated.

   For example. if the Number of days is set to 30 and you enter an invoice with an invoice date of 03/10/2012, the due date for the invoice will be 31/07/2012.

   End of month

   Invoices are due the specified number of days after the end of the month in which the invoice was dated.

   For example, if the Number of days is set to 15, and you enter an invoice with an invoice date of 03/10/2012, the due date for the invoice will be 15/11/2012.

   Calendar monthly

   Invoices are due on the same day the following month. The Number of days is automatically set to 0.

   For example, if you enter an invoice with an invoice date of 03/10/2012, the due date will be 03/11/2012.

   Due date calculations are only made for invoice transactions. Credit notes always retain the same due date as the entered transaction date.