Payment Terms in FICA

[Former Member]

Dear All,

          I am hanged up in the configuration of payment terms for fica. Payment terms used by the client is as follows:

if Payment is made:

1.     upto 6th day of calender month then Rebate @ 2% will be allowed,

2.     from 7th day to 9th day then rebate @ (2-X(0.025 per day)) will be allowed,

3.     from 10th to 30th day of calender month then rebate @ (1.925-X(0.033 per day)) will be allowed.

Please help me and how to configure it.

Thanks in advance.

[former_member215295]

Hi Manish,

I think you can do this have you checked the configuration under terms of payment -

SPRO>Financial Accounting >Accounts receivables and payables > Business transactions > either under incoimg or outgoing invoices there is configuration node for terms of payment and it has step wise rebate process.

thanks,

Vikram

[william_eastman · Accepted solution]

Manish:

FICA payment terms only support one level of cash discount.  In order to handle this requirement you would have to build an enhancement somewhere/somehow.  I do not recommend it.

regards,

bill.

[Former Member]

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[Former Member]

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[rahul_paldiwal2]

Manish : Mite need enhancement in one of the clearing events... It comes up with it's own complications:

1. Partial / Full clearing and when the rebate should be applied

2. Dishonours ...esp. direct debit dishonours

3. Final Bill etc....

[shah_viraj]

Dear Manish,

We have implemented this kind of requirement in our client, using FQEVENTS number 110. write a code in that event to achieve slab wise discount mapping. Let me know if you need more help on the same.

Thanks

Viraj