Minimum Version Required: 22.01
Pre-Conditions
The following workflow assumes that you already have a Fintech, iControl, or EFT setup in place
Steps
How to set an AR Account to Electronic Payment Terms
Using Universal Search, navigate to the AR Accounts table
Click the AR Account column header to search for the account you want to modify then click Go
Click the arrow to select the AR Account record
Scroll to the Terms field and click the Edit icon to open the field for editing
From the list provided, select a Credit Term that is linked to the desired EFT Exchange Configuration
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
Using Universal Search, navigate to the Split Invoices table
Using the columns headers, apply filters to find the Split Invoice record to modify
Click the arrow to select a Split Invoice record
Scroll to the Terms field and click the Edit icon to open the field for editing
From the list provided, select a Credit Term that is linked to the desired EFT Exchange Configuration
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