Payment Terms Status Reports

Payment Terms Status Report

Using the invoices generated in response to the Sales Order, this report will determine the status of the payment terms. Using the FIFO technique, the invoice amount is divided into the appropriate payment terms at runtime.

Example:

Consider a sales order with a total cost of 7000 and a 50-50 payment schedule.

If a sales invoice for 4900 is submitted in relation to that SO.

The report will then divide the invoice amount into payment terms using the first-in, first-out (FIFO) method and show the statuses as "Completed" for the first 50% and "Partly Paid" for the second 50%.