AR Terms are configured in Setup / Finance / Dunning Process / AR Terms
Overview
Accounts receivable (AR) terms determine when payment is due (using configured payment terms) and what actions are executed when payment has not been received (using dunning rules). Multiple AR terms can be setup to handle the account types you have defined (partner, customer, etc.). The AR terms you configure on this screen are selectable when creating new accounts and adjustable on existing accounts from the account settings screen.
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
The Accounts Receivable Terms Panel
The Accounts Receivable Terms panel on the left of this screen allows you to select existing AR terms to view or edit its details on the Edit Accounts Receivable panel to the right. Actions are also available in this panel which are shown as icons above the Filter text box. The available actions are described below.
Actions
Icon | Description |
|---|---|
 | Deletes a selected AR term. AR terms that are in use (configured on an account) cannot be deleted. |
 | Adds a new AR term |
The Edit Accounts Receivable Term Panel
The information in this panel reflects the currently selected AR term. From here you can modify its details (fields will display a red left border if a value is required and purple text if the field is read-only and cannot be modified).
AR Term Fields and Options:
Name: the descriptive name for the AR term. Typically this name will indicate which type of accounts the term applies to (e.g. Corporate, Partner, etc.)
Payment Term: populated from the payment terms that have been configured. Select the payment term you would like to use for this AR term. Payment terms will only execute if the bill run that bills the account is configured with the 'Run Dunning Process' setting enabled
Dunning Rule: populated from the dunning rules that have been configured. Dunning rules will only execute if the bill run that bills the account is configured with the 'Run Dunning Process' setting enabled
Default: if enabled, this AR term will automatically be selected in the AR Term dropdown field when creating a new account
References tab
The References section indicates which accounts are configured to use the AR term. A Filter box is present under References which permits you to filter the list to display only the accounts that you wish to see.