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Financial software features

We've organised the capacities of our eCommerce software through a feature-focused format.

Settlement terms

Discounts for prompt or early payment of invoices.

In a Business to Business environment you may wish to offer discounts to your customers for prompt payment of your invoices. Your suppliers may also grant you discounted settlement terms to encourage you to pay their invoices ahead of time. The standard system can handle both of these.

The Settlement Terms functionality within our software is used when creating Account Agreements and determining the terms in which the Customer or Supplier account should be settled – for example, whilst most Retail orders are sold on a Cash With Order basis, Trade orders and Purchase Orders can be assigned settlement terms such as 30 Day, 60 Day etc.

Settlement Terms

Settlement Terms can be setup to calculate the due date of the invoice on either a number of days or day of month basis. Once a user has made their choice they can then further define the terms. The user setting up the settlement terms would check the "Apply Discount" box if you wished to offer discounts based upon prompt payment. This would lead the user setting the terms up to enter further details regarding when the discount would be valid up to and the amount of discount to be applied, as either a percentage or a fixed value.

Settlement Terms Criteria

Settlement Terms can be amended on a per transaction basis and can be different to against the Account Agreement. Settlement Terms can be amended on Ledger Invoices to allow flexibility. However any settlement term applied to an order which has been processed through a workflow cannot be amended by the user and is automatically greyed out by our software as per the example below.

Settlement Terms Criteria

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