Business Central allows facilitates customers and provides ways to develop a long-term relationships with them. Defining and giving early payment discounts is one such thing that increases customer engagement. If you wanted to provide a discount to your customer for paying you before the Due Date and within a specified No of days then this blog will show you how to do this.
In the Invoice Detail Tab of Sales Order, there is a field “Payment Term Code”. Use this field to define early payment discount and due date. The payment term code can be defined in a customer card as well and it will be automatically populated when Sales Order is created for that customer.
Select from the existing ones or create a new code as per your requirement. Created a new code which allows 2 % discount if payment is made with in 5 Days rather than with in 15 days. 15 days period is actual due date and 5 days period is due date to avail discount.
In invoice tab, select the newly defined code in Payment Term code field
The payment discount percentage is coming as 2 percent as defined in our code. Similarly, Payment discount date is 7/23/2022 which is exactly 5 days from the posting date i.e. 7/18/2022
This blog covers how we define our payment code, early payment discounts in Business Central. accsoft has years of experience in implementing Microsoft ERPs. Furthermore, for assistance and to make us your implementation partner reach us at email@example.com
Vendor card in Business Central saves vendor data and the system uses it while generating purchase-related documents. There are different sections in the vendor card for a different purposes. A list of all available vendors appears on opening the related link.
Create a Vendor using option “New”
A vendor template selection window appears when you click on a “New” option. Choose the template according to the requirement, the available data in the chosen template will populate automatically in the card.
Define the vendor’s name, no, etc. in this section. There are certain fields in this section that will populate with transactional data like Balance (LCY) etc.
Address & Contact Section:
Fill in the required details in the address and contact section. If the vendor belongs to a different region and has a different native language, then select the language code for the vendor. The information on documents will translate in the selected language.
Fill in the required details in this section which includes posting groups, tax area code, etc. . If the vendor to whom payment has been made is different then the vendor on vendor card then select that vendor in Pay-to-Vendor field. This field is useful in cases where companies have subdivisions but the head division deals with all the payments.
Specify all the payment-related details in this section, they will apply to the transactions automatically. If any prepayment is required for the vendor for order processing then define its percentage in the prepayment field. Define payment term code and method in this section as well.
Specify the receiving-related information in this section. In the location code define the default location where items will receive from this vendor. Similarly, define shipment method, code and lead time associated with the particular vendor in this section.
Finally the newly created vendor will appear in the list
This blog cover vendor in business central, its creation, and different sections in vendor card. accsoft has years of experience in implementing Microsoft ERPs. Furthermore, for assistance and to make us your implementation partner reach us at firstname.lastname@example.org