MTD 242-595A User Manual download pdf (Page 36)

Discount Percent

Enter the percentage of the discount offered by this vendor when the invoice

is paid early in the Discount percent field. Enter any discount up to four

digits, including two decimal places, from 0.00 to 99.99. If no discount for

prompt payment is offered, leave this field blank and move to the next field.

Discount Days/Date

Enter up to three digits for either the number of days or the date by which an

invoice must be paid to receive the discount for prompt payment in the

Discount days/date field. Enter any number of days from 0 to 365 or any

day of the month from 1 to 30. Either type of entry is acceptable.

For example, if you receive a two-percent discount if you pay invoices for this

vendor by the 15th of the month, enter 15 in this field. Conversely, if you

receive the discount if you pay invoices in 10 days, enter 10 in this field.

Whether your entry is interpreted as a specific date or a number of days is

determined by the code you enter in the Discount code field. If no discount

for prompt payment is offered, leave this field blank.

Discount Code

The discount code is a one-character code that determines how your entry in

the Discount days/date field is interpreted. Three entries are acceptable in

the Discount code field: M, N, or P.

Enter the code that describes the discount offered by this vendor in the

Discount code field. If you are unsure of the code to enter, press <Prompt>

(PF2) to look up the correct code. When you press this function key, the

Discount Code Selection window opens listing the acceptable codes.

Discount Codes and Definitions

Code Description Definition

M Day of the month

Discount is offered when invoice is paid by a

specific date, which is entered in the

Discount Days/Date field.

Number of days from

invoice

Discount is offered when invoice is paid in a

specific number of days from the date of the

invoice, which is entered in the Discount

Days/Date field.

Approximate day of

the month

Discount is offered when invoice is paid

approximately by a specific date, which is

entered in the Discount Days/Date field.

ECS Pro Page 28

Chapter 2: Purchase Order Entry

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MTD 242-595A User Manual Page 36

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