{"id":18284,"date":"2019-08-29T11:10:33","date_gmt":"2019-08-29T11:10:33","guid":{"rendered":"http:\/\/www.greytrix.com\/blogs\/sagex3\/?p=18284"},"modified":"2019-10-04T12:16:36","modified_gmt":"2019-10-04T12:16:36","slug":"how-to-use-and-setup-the-functionality-of-early-discount-late-charges-in-supplier-invoice-in-sage-x3-version-12","status":"publish","type":"post","link":"https:\/\/www.greytrix.com\/blogs\/sagex3\/2019\/08\/29\/how-to-use-and-setup-the-functionality-of-early-discount-late-charges-in-supplier-invoice-in-sage-x3-version-12\/","title":{"rendered":"How to use and setup the functionality of early discount \/ late charges for Supplier Invoice in Sage X3 version 12"},"content":{"rendered":"\n

An early payment discount is one form of trade finance and a way for companies to obtain a discount on a supplier’s invoice in exchange for paying the supplier early. In other words, a company pays less than the full amount due while the supplier receives payment earlier than they would under standard payment terms.<\/p>\n\n\n\n

Do the setup as per the requirement by entering early discount\/ late charges in days and its rate in percentage. For doing the setup navigate to below paths.<\/p>\n\n\n\n

Navigate to:<\/strong> Common data \u2192 BP tables \u2192 Early discount\/late charge<\/p>\n\n\n\n

\"Early
Fig: Early Discount<\/strong><\/figcaption><\/figure>\n\n\n\n

As in the above Image \u2013<\/p>\n\n\n\n

  1. \u2013 (minus) in rates indicates discount while rest are charges. <\/li>
  2. For 0 to \u2013 4 days, the system will consider no discount.<\/li>
  3. For \u2013 5 to \u2013 09 days, the system will consider \u2013 1% discount.<\/li>
  4. For \u2013 10 and above days, the system will consider \u2013 10% discount.<\/li>
  5. Whereas 0 to 9 days, the system will not consider any discount or charges, because it is set to 0. <\/li>
  6. 10 to 29, days system will consider 5% late charges. <\/li>
  7. 30 to 59 days, the system will consider 8 % late charges. <\/li>
  8. And 60 and above, system will consider 10 % late charges.<\/li><\/ol>\n\n\n\n

    Now, Navigate to:<\/strong> Parameter \u2013> A\/P-A\/R accounting \u2013> Payment attributes
    Make sure that it has to be Account<=> BP and marked as early discount.<\/p>\n\n\n\n

    \"Payment
    Fig: Payment Attribute<\/strong><\/figcaption><\/figure>\n\n\n\n

    Now, Navigate to: <\/strong>Parameter \u2192 General parameters \u2192 Parameter values \u2192 Business Partners (TRS) \u2192 Early Disc (TDC).
    Right click and go to detail, and enter the default Payment attributes against the line no 4 and 6, which you have created above.<\/p>\n\n\n\n

    Also, select the due date for the calculation of Discounts \/ Charges. The possible values are \u2013 Open item due date and Invoice date.<\/p>\n\n\n\n

    \"Parameters
    Fig: General Parameters TRS mode<\/strong><\/figcaption><\/figure>\n\n\n\n

    Don\u2019t forget to tag account against discount or late charges. To add the same, Navigate to:<\/strong>
    Parameter \u2192 Financials \u2192 Accounting interface \u2192 Accounting codes \u2192 Payment
    Enter the desired location for loss and profit.<\/p>\n\n\n\n

    Now go to payment terms and define the payment term. Please note that based on Payment term date and Due date basis (Open item or Invoice date) system will consider the Due date.
    Now to check, if this is working as per setup, navigate to A\/P-A\/R accounting \u2192 Invoicing \u2192 Supplier BP Invoice.<\/p>\n\n\n\n

    \"AP\/AR
    Fig: Supplier BP Invoice<\/strong><\/figcaption><\/figure>\n\n\n\n

    Create a new Invoice and select Early Discount \/ Late charge, which you have created above.
    Here due date basis and Accounting date is 08\/16\/19 and the due date is 09\/22\/19 \u2013 Refer above screen shot.<\/p>\n\n\n\n

    After posting Invoice go to A\/P-A\/R accounting \u2192 Payments \u2192 Payment\/receipt entry.
    Create a Payment entry for the created Invoice. Please make sure that you are creating payment either Backdated or on a future date to avail the early discount \/ late charges.
    As soon as you will select Invoice no, the system will auto calculate Discount\/Charges. Refer below screen shot.<\/p>\n\n\n\n

    \"AP\/AR
    Fig: Payment\/Receipt Entry<\/strong><\/figcaption><\/figure>\n\n\n\n

    As you can see the system has granted 2% early discount.<\/p>\n\n\n\n

    The setup explained above is used to calculate the early discount and Late charges.<\/p>\n\n\n\n

    Hope this works.<\/p>\n\n\n

    About Us<\/strong><\/span>
    Greytrix<\/a> \u2013 a globally recognized Premier Sage Gold Development Partner is a one-stop solution provider for Sage ERP and Sage CRM needs. Being recognized and rewarded for multi-man years of experience, we bring complete end-to-end assistance for your technical consultations, product customizations, data migration, system integrations, third-party add-on development and implementation expertise.<\/p>\n

    Greytrix<\/a> caters to a wide range of Sage Enterprise Management (Sage X3) offerings \u2013 a Sage Business Cloud Solution. Our unique GUMU™ integrations include Sage X3 for Sage CRM<\/a>, Salesforce.com<\/a> and Magento eCommerce<\/a> along with Implementation and Technical Support worldwide for Sage X3 (Sage Enterprise Management)<\/a>. Currently we are Sage X3 Implementation Partner<\/a> in East Africa, Middles East, Australia, Asia. We also offer best-in-class Sage X3 customization and development services<\/a>, integrated applications such as POS<\/a> | WMS<\/a> | Payment Gateway<\/a> | Shipping System<\/a> | Business Intelligence<\/a> | eCommerce<\/a> and have developed add-ons such as Catch \u2013 Weight <\/a> and Letter of Credit<\/a> for Sage X3 to Sage business partners, end users and Sage PSG worldwide.<\/p>\n

    Greytrix is a recognized Sage Rockstar ISV Partner<\/a> for GUMU™ Sage X3 \u2013 Sage CRM integration also listed on Sage Marketplace<\/a>; GUMU™ integration for Sage X3 \u2013 Salesforce is a 5-star app listed on Salesforce AppExchange<\/a>.<\/p>\n

    For more information on Sage X3 Integration and Services, please contact us at x3@greytrix.com<\/a>. We will be glad to assist you.<\/p>","protected":false},"excerpt":{"rendered":"

    An early payment discount is one form of trade finance and a way for companies to obtain a discount on a supplier’s invoice in exchange for paying the supplier early. In other words, a company pays less than the full amount due while the supplier receives payment earlier than they would under standard payment terms.\u2026 Read More »<\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,8,11],"tags":[650,862,1424,2802,1822,1839,2803],"class_list":["post-18284","post","type-post","status-publish","format-standard","hentry","category-features","category-sage-erp-x3","category-tips","tag-early-discount-late-charges-in-supplier-invoice","tag-functionality-of-early-discount","tag-parameter-values","tag-payment-receipt-entry","tag-sage-x3","tag-sage-x3-blogs","tag-supplier-bp-invoice"],"_links":{"self":[{"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/posts\/18284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/comments?post=18284"}],"version-history":[{"count":8,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/posts\/18284\/revisions"}],"predecessor-version":[{"id":18734,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/posts\/18284\/revisions\/18734"}],"wp:attachment":[{"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/media?parent=18284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/categories?post=18284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/tags?post=18284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}