Sales Easy Setup Assistant
Set up payment information
Use this window to select a payment method and credit terms information that will make receiving payments for orders and invoices faster and easier for you. The default entries you make here will be used for any new customer records you create in MYOB AccountEdge.
When you begin entering sales, the payment details and credit terms entered on the Customer Card will be automatically entered in the Sales window. (You can change the payment information at the time you enter them as part of a sale, if you need to.)
When you set up your customer records later (in this Assistant) or at any time, you can modify the individual customers' payment information, if you want.
Payment Method
Choose the method of payment that will be used most often by your customers. Click the Select from List arrow to see a list of all the payment methods that have been set up for your customers; you can also add a new payment method to the list.
Credit Terms
- Discount Days. If you offer a discount for early payment, enter the number of days the discount is available. (This is the number of days after the transaction date during which the discount applies.) For example, if the transaction date is April 20 and the number of discount days is 10, a discount would apply if the balance was paid on or before April 30.
If you selected On a Day of the Month or Day of Month after EOM in the Payment is Due field, select the day of the month for which the discount applies.
If you select a day in the month that comes before the transaction date, the discount will apply until that day in the next month. For example, if the transaction date is April 20 and the discount date is 19th, a discount would apply if the balance was paid on or before May 19.
- Balance Due Days. Enter the number of days after the transaction date that the balance of the transaction is due. For example, if the transaction date is April 20 and the number of balance due days is 10, the balance must be paid on or before April 30.
If you selected On a Day of the Month or Day of Month after EOM in the Payment is Due field, select the day of the month the transaction is due.
If you select a day in the month that comes before the transaction date, the balance won't be due until that day in the next month. For example, if the transaction date is April 20 and the balance due date is 19th, the balance must be paid on or before May 19.
- % Discount for Early Payment. Enter the discount percentage you offer to your customers, if any, if they pay a transaction balance on or before the transaction's discount due date.
- % Monthly Charge for Late Payment. If you charge for late payments, enter the percentage of the transaction you'll charge your customers if individual transactions' balances aren't paid by the transactions' balance due date.