Summary

This article covers the default fields available in the configurable add vendor payment terms form.

Table of Contents

• Access Add Vendor Payment Terms Form
• Default Fields
  • Total Contract Value Field
  • Contract Value Paid to Date Field
  • Payment Currency Field
  • Payment Frequency Field
  • Terms Field
• Save Actions
  • Save Button
  • Save & New Button
  • Cancel Button
• Importing Vendor Payment Terms

Vendor Payment Terms of Vendor level contracts are managed in CTMS by the Vendor Payment Terms form, one of many Configurable Forms. It is from this screen that relevant information concerning the payment terms of vendor level contracts can be defined. What is displayed on this form can be configured from CTMS Settings.

The Vendor Payment Terms form is labeled Add Vendor Payment Terms for a new record and Edit Vendor Payment Terms for an existing record.

Access Add Vendor Payment Terms Form

The Add Vendor Payment Terms form can be reached by clicking the “Add Vendor Payment Terms” Action found in the Actions Menu on the Edit Vendor Contract Form.

The Edit Vendor Payment Terms form for existing vendor payment terms may be accessed by clicking on the vendor name in the Vendor Manager and the Edit Vendor form shall appear, then select the red arrow beside Contracts to expand the Edit Vendor sub-menu, then select the arrow beside Contract Type and Effective Date and select the Payment Terms.

Default Fields

The Vendor Payment Terms Form contains the following fields by default:

Total Contract Value Field

The Total Contract Value field is a Currency field, and is used to identify total amount of the contract value. By default, the Total Contract Value field is a required field and a black alert will fire if the Total Contract Value data is not provided. The form cannot be saved until the Total Contract Value data is entered. The Total Contract Value field’s visibility settings cannot be changed.

Contract Value Invoiced to Date Field

The Contract Value Paid to Date field is a read-only field which calculates all invoices due balances that have been reported for the Payment Terms. The Contract Value Paid to Date field’s visibility settings cannot be changed.

Payment Currency Field

The Payment Currency field is a Dropdown Select Field, and is used to identify which currency defined in the contract payment terms. The field will contain as options all currencies supported by the system. By default, the Payment Currency field is a required field and a black alert will fire if the Payment Currency data is not provided. The form cannot be saved until the Payment Currency data is entered. The Payment Currency field’s visibility settings cannot be changed.

Payment Frequency Field

The Payment Frequency field is a Dropdown Select Field, and is used to identify the expected frequency of the payments. By default options available are “On Demand”, “Monthly”, “Quarterly”, “Semi-annually”, “Annually”, “Weekly”, “Bi-weekly”, and “Bi-monthly”. These options can be changed via the Payment Frequency Managed List found in CTMS Settings. By default, the Payment Frequency field is a required field and a black alert will fire if the Payment Frequency data is not provided. The form cannot be saved until the Payment Frequency data is entered. The Payment Frequency field’s visibility settings cannot be changed.

Terms Field

The Terms is a Multi-line Text Field, and is used to describe the terms of the payments. By default, the Terms field is a preferred field and a red alert will fire if the Terms data is not provided.

Save Actions

Save Button

When the Save button is selected the data entered for the questions will be saved and the user will be directed to the Edit Vendors Contract screen.

Save & New Button

When the Save & New button is selected the data entered for the questions will be saved and the user will be directed to a new Add Vendor Payment Terms form.

Cancel Button

When the Cancel button is selected the data entered for the questions will not be saved and the user will be directed to the Edit Vendor Contract screen.

Importing Vendor Payment Terms

This information can be imported as part of the Vendor’s import. Click here for more information.

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