Create a standard penalty term

A standard penalty term is an agreed penalty term between a company and a supplier related to the payment of the invoice amount in a Purchase Order (PO).

You cannot modify a penalty term in a PO if the invoice related to the PO is cleared.

1. Navigate to the s50010 Standard Penalty Terms screen.

2. To refresh the screen, select the F5 key.

3. On the Home menu, in the Record group, select Create.

   In the Standard Penalty Terms grid, a blank row is created.

4. Select the General tab and enter the relevant details in the following fields:

   • Standard Penalty Term ID: The unique ID of a penalty term.

   • Description: The description of the penalty term.

   • Percent Week: A percentage value to measure the penalty applicable per week.

   • Max Percent: A percentage value to set the maximum penalty allowed.

5. (Optional) Enter the relevant details in other fields as required. For more information on all the fields, see s50010 Field descriptions.

6. On the Home menu, in the Record group, select Save.

   The standard penalty term is created.