Minimum Version Required: 22.01
Pre-Conditions
The following workflow assumes there is a Fintech, iControl, or EFT setup in place.
Steps
How to set an AR Account to Electronic Payment Terms
1. Using Universal Search, navigate to the AR Accounts table.
2. Click the AR Account column header to search for the account to modify then click Go.
3. Click the arrow to select the AR Account record.
4. Scroll to the Terms field and click the Edit icon to open the field for editing.
5. From the list provided, select a Credit Term that is linked to the desired EFT Exchange Configuration.
6. Click the Save icon.
Note: Be sure to update the Terms on any of the Split Invoices for this Customer, AR Account, or its Chain.
How to set Split Invoices with Electronic Payment Terms
1. Using Universal Search, navigate to the Split Invoices table.
2. Using the column headers, apply filters to find the Split Invoice record to modify.
3. Click the arrow to select a Split Invoice record.
4. Scroll to the Terms field and click the Edit icon to open the field for editing.
5. From the list provided, select a Credit Term that is linked to the desired EFT Exchange Configuration.
6. Click the Save icon.
Note: The Split Invoices can be set on the AR Account, Customer, or Chain levels. Be sure to update the Terms on any other Split Invoices.
Best Practices
Changing an AR Account changes the Terms on invoices from the last 30 days with have an open balance and triggers the invoices to be sent through EFT/EDI.
Make sure the term is connected to the correct Exchange Configuration.
A Split Invoice does not always need a term; if there is no term set on the Split Invoice, it defaults to the term set on the AR Account.