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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 the Accounts Receivable Terms heading click the
button to add a an AR TermsTerm
Under the Add AR Terms heading give the AR Term a Name (e.g. ‘30AR'). In the example shown below the AR Term will be created to set the account payment due date as 30 days after the invoice render date/account bill day. This sample AR Term will also associate the dunning rule (e.g. consumer’) on the account which will apply the late fees post the due date
Default: is not enabled, this AR term will not be automatically selected in the AR Term dropdown field when creating a new account
Select the Payment Terms (e.g. NET30). This payment term will set the account invoice due date as 30 days after the invoice render date/account bill date (the starting date used is determined by the bill group setting 'Invoice Due Date Based On'). Refer Payment Terms Configuration ExamplesExample to configure this payment term
Select the Dunning Rule (e.g. 'Consumer'). This Dunning rule will apply the late fees on the account post the invoice due date. Refer Dunning Rules Configuration Example to configure this Dunning Rule
Click Save to add the AR Term
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