peachtree-software peachtree complete accounting 7.0 Quick Setup Guide
Lesson IV—Accounts Payable
Maintain Vendors
91
Entering a Discount
This vendor is offering our company a 5% discount for paying bills within 15
days of the purchase invoice date. This exceeds our standard vendor terms of
payment for Bellwether Garden Supply, which is 2% in 10 days. However, we
have been given this incentive because we are a good customer to them.
days of the purchase invoice date. This exceeds our standard vendor terms of
payment for Bellwether Garden Supply, which is 2% in 10 days. However, we
have been given this incentive because we are a good customer to them.
1
Select the Purchase Defaults tab.
Notice that most of the information in the window changes, but some
remains the same—the Vendor ID, Name, and the Inactive check box.
remains the same—the Vendor ID, Name, and the Inactive check box.
2
Select the Terms arrow button at the bottom of the window.
An arrow button indicates additional information can be accessed
related to the subject.
related to the subject.
3
Click the Use Standards Terms check box to clear this option. There should
be no mark in the box.
be no mark in the box.
When the Use Standard Terms check box is selected, the other term
options are dimmed. Clearing the check box allows us to make changes
to this vendor’s terms.
options are dimmed. Clearing the check box allows us to make changes
to this vendor’s terms.
4
Move the cursor to the Discount in # of days field. Type 15 and press
e.
The cursor moves to the Discount % field.
5
Type 5.0 and press
e.
6
Select OK to save these entries. Next, select the Save button to update the
vendor record.
vendor record.
7
Press
q to close the Maintain Vendors window.
Clearing the Use
Standard Terms
check box allows
you to enter
unique conditions.