Use this program to create and maintain the payment history control record.
Establish how payment history is to be stored including:
Average - Based on number of invoices
|
$10.00 |
5 days to pay |
|
$100.00 |
15 days to pay |
|
2 invoices |
20 days |
|
20 / 2 = Average # of days to pay = 10 |
|
Weighted - Based on number of dollars
|
$10.00 |
x 5 days to pay = |
$50.00 |
|
$110.00 |
x 15 days to pay = |
$1500.00 |
|
$110.00 |
|
$1550.00 |
|
Total Dollars |
|
Total Dollar Days |
|
$1550 / 110 = Average # of days to pay = 14.09 |
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This control record must be set up prior to entering payment history for customers or running the Document Removal Register. Payment history is updated by the zero balance documents (paid off) removed by the Document Removal Register.
For more information how to use maintenances, refer to the following topics:
How to use file maintenance programs
Access this program by choosing Accounts Receivable-->File Maintenances-->Infrequent File Maintenances-->Payment History Control F/M.
1.* Prior Periods Stored
Enter the number of prior periods to be stored (0, 3 to the number of periods in a year). An entry of 0 indicates not used and the remaining fields are skipped. Press Enter (CR) to default to the number of periods in a year.
2.* Average/Weighted
Enter whether days outstanding are to be stored by Average or Weighted average. Average means the number of days outstanding for payment history is based on the total number of invoices paid. Weighted average means the average number of days outstanding for payment history is based on the total number of dollars paid. Press Enter (CR) to default to A.