...
|
|---|
Prerequisites
Payment terms are required to setup AR terms and must be configured beforehand.
Dunning rules are not required but need to be configured if you wish to add them to AR terms
...
In this example we will add a sample AR terms that is configured to set the invoice due date and define the dunning rule of the accounts.
Log into the LogiSense Billing application
Click on the Setup menu, Finance and then Dunning Process
Under the Bill Runs heading click the
button to add a AR Terms
Under the Add AR Terms heading give the AR Term a Name (e.g. '30AR‘30AR'). In the example shown below the AR Term has been created to set to calculate the account payment due date as 30 days after the invoice render date/account bill day. This sample AR Terms also define associate the dunning rule to for consumer account type to apply (e.g. consumer’) on the account which will apply the late fees on the due date.
Default: if is not enabled, this AR term will not be automatically be selected in the AR Term dropdown field when creating a new account.
Select the Payment Terms : NET30 allows (e.g. NET30). This payment term sets the account invoice due date as the date which is 30 days after the invoice render date/account bill date that the invoice is due. Refer Payment Terms Configuration Examples to configure this payment term.
Select the Dunning Rule (e.g. 'Consumer'). This Dunning rule applies the late fees on account on the invoice due date. Refer Dunning Rules Configuration Examples to configure this Dunning Rule.
Click Save to add a AR Terms.
...