Set up Trading Terms

Use Trading Terms to calculate the due date on every Billing Document, so setting them once saves you from editing due dates by hand and keeps your Ledger and payment reminders accurate.

Before you start

• Trading Terms are a feature that is switched on per saleyard or deployment. If you cannot see the Trading Terms section, contact AgriNous support.

How Trading Terms work

Each Trading Term has two halves. Buyer Terms apply to invoices issued to buyers. Vendor Terms apply to RCTIs issued to vendors. Each half has its own number of days and its own payment schedule.

A Trading Term applies to a combination of Sale Type, Species and Sale Sub Type. You can leave the more specific fields empty to make a broader term. When a Billing Document is created, AgriNous picks the most specific Term that matches the Sale, in this order:

Trading Terms can be set at three levels. Business Trading Terms override the Terms set on the Tale or by your Agency.

Add Trading Terms

These steps are the same for default Terms and for a single Business. Only the starting screen differs.

1. To set default Terms, open your Deployment settings, then open the Finance section. To set Terms for one Business, open the Business, then open the Finance & Accounting section.
2. In the Trading Terms section, select New Trading Terms.
3. In the new row, choose the Sale Type.
4. In the same row, choose the Species.
5. If the Term is only for one kind of Sale, choose a Sale Sub Type. Leave it empty to cover every Sub Type.
6. Select the pencil button at the end of the row to open the Buyer and Vendor settings.
7. Under Buyer Terms Configuration, enter the number of days in Payment Terms.
8. In Payment Due Scheduling, choose when payment falls due. Leave it on Days from issue to make payment due exactly that many days after the document is issued.
9. If you chose another schedule, fill in the extra fields that appear (see the options table below).
10. Under Vendor Terms Configuration, repeat steps 7 to 9 for Vendors.
11. Select the tick button to close the settings. The row now shows a summary, for example Minimum 30 Days, Due: Every Month On The 20th.
12. Save the form.

Result: New Billing Documents for matching sales get their due date from the Term you added.

Change or remove Trading Terms

1. In the Trading Terms section, find the row you want.
2. To change it, select the pencil button, edit the fields, then select the tick button.
3. To remove it, select the bin button at the end of the row.
4. Save the form.

Changes apply to Billing Documents created from then on. They do not rewrite the due dates on documents that already exist.

Payment due scheduling options

Payment Terms is the minimum number of days before payment is due. The Payment Due Scheduling option then decides which date after that minimum becomes the due date.

Choose Second available Month or Second available Quarter in In The to push the due date out by one more period.

Where Trading Terms show up

• On a billing document, the Due Date field. You can still edit the date while the document is a draft.
• On the Billing Overview, the Default Terms chips show the Vendor and Buyer days for the Sale. A warning icon with the tooltip "Terms differ from Sale defaults" appears when the Sale's days differ from the default Term.
• In the Businesses table, the Buyer Terms (days) and Vendor Terms (days) columns show each Business's terms.
• On the Billing Overview, the Edit Trading Terms action opens the sale so you can change its Buyer and Vendor days.

Example Trading Terms Settings

Troubleshooting

A red message under a row, or a pencil button you cannot select, means the term has a problem. Fix the message and the button works again.

If a due date is not what you expected, check for a Business Term first, because it overrides the Agency and Sale Terms. Then check whether another row with a more specific Sale Type, Species or Sale Sub Type matches the Sale.