For the select vendors who are set up for payments via direct deposit/EFT, the payment methods will vary (e.g., immediate, 7 days or 25 days) and will be derived from the Vendor Master Record.
Most non-EFT vendors will continue to have standard payment terms of 35 days (i.e. coded YT05 in FIS).
The most common Payment Term and corresponding AMS codes are:
NOTE: Users do not enter it when processing payments in FIS.
Please see the screenshots below to locate an EFT vendor’s payment terms:
The Payment Terms appear in the vendor search results:
Once the Basic Data tab is complete in the FB60 – Invoice screen, the payment terms will appear as indicated below:
Once an invoice has been posted, users can display the financial document (i.e. 19-series OR 51-series) and locate the payment terms by:
STEP 1 – Display the Financial Document in FB03 – Document Display, and double click line 1 (i.e. the Vendor line).
STEP 2 – Locate Payment Terms
When processing a Purchase Order, the Payment Terms code can be found within the Header section >> Delivery/Invoice tab: