Recording billing terms

This section enables you to define the billing terms. Invoicing details such as whether invoicing must be done manual or automatic, the mode of receipt, pay term, forward cover are also covered in this section.

Note: To modify / revise a contract, it must be in status other than “"Confirmed" or "Closed" or "Cancelled" or "Revised".

Select the "Shipping Terms' tab in the " Billing Terms" page.
Enter the following fields in the “Bill to Address” group box:

Bill to Customer #	The number identifying the customer to be billed. Mandatory.
Bill to Address ID	A unique number that identifies the address of the customer. Mandatory. By default the system displays the “Bill to Address ID” of the customer from the “Manage Customer Contract” Page.
Alternate Permitted	Check this checkbox if an alternate address for the customer is permitted for the purpose of billing the customer.

The system displays the following fields:

Customer Name	The name of the customer with whom the contract is entered.
Address 1	The first line of the customer address.
Address 2	The second line of the customer address, if any.
Address 3	The third line of the customer address, if any.
City	The name of the city.
Zip	The zip code identifying the address area.
State	The name of the state.
Country	The name of the country.
Contact Person	Contact person for billing.
Work Phone #	The phone number of the customer.
Email	The email ID of the customer.
Fax	The fax number of the customer.

Enter the following fields in the “Invoice & Receipts Modes” group box:

Inv. Transmittal Mode	Mandatory. The system lists the following options: Electronic Manual
Inv. Generation	Mandatory. The system lists the following options: Automatic Manual
Pay Term	The code identifying the pay term associated with the customer. Ensure that the value entered in this field is a valid term as specified in the “Pay Term” business component.
Receipt Method	Indicates the flow of receipt from the customer. The system lists the following option: Regular - Select this option if receipt from the customer is on a regular basis.
Receipt Mode	The mode of receipt from the customer. The system lists the options” “Cash”, “Check”, “Credit Card”, “Demand Draft”, “Direct Credit”, “Direct Debit”, “EFT”, and “Others’.
Our Bank Code	A unique bank code identifying the bank in which the customer is required to make payments due to you. Mandatory. This bank code is specified for easy identification of bank account. The bank code must be unique across the company.

Enter the following fields in the “Exchange Rate” group box:

Fwd. Cover Applicable?	Use the drop-down list box to specify whether forward cover is applicable for billing purposes. Mandatory. You can select from the options “Yes” or “No”. More...
Forward Rate	The agreed rate at which a currency is to be exchanged at a future date irrespective of the exchange rate fluctuations. Data entry in this field is mandatory if “Yes” is specified in the “Fwd. Cover Applicable?” field.

Click the “Save Billing Terms” pushbutton to save the billing term details.

On creation of a contract

Updates the billing term details of the contract against the contract number.
Generates the revision number as “0”.

On modifying contract details

Updates the billing details against the contract number or revision number in which the modifications are made for contracts before their approval.

On revising contract details

Generates an incremental revision number and saves all the revisions made against the generated revision number for approved contracts.