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Many IMOS invoices include a Payment Terms field for recording the terms under which an invoice is due. A default set of terms is provided, but you can add and remove terms as required; the the Payment Terms Module Right must must be selected in Security, under under Charter Party Terms in the Data Center.In the Data Center 
Image Modified, under Charter Party Terms, click Payment Terms.
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Calculated Due Dates
Payment Terms can be used to calculate due dates based on Operations data and update these due dates even after the invoice has been posted. This functionality is helpful on the Receivables Summary, where columns can be added for Invoice Calculated Age (Day), Invoice Calculated Age (Group), and Invoice Calculated Due Date after enabling configuration flag CFGActEnableCalculatedDueDate.
These Calculated Due Dates can also be included in the Accounts Payable/Receivable Financials Report.
When using Calculated Due Dates, note that the original Due Date field will not be overwritten and will remain as at posting. If necessary, the original Due Date can be manually be manually overridden using configuration flag CFGActDueDateAfterPost.
Cycle Payment for Operations Invoices
If an operations invoice has a Payment Terms field, you can set up Cycle Payment, which calculates up to four Due Dates per month.
To set up Cycle Payment, do the following:
Edit configuration flag CFGOpsEnableCyclePayments: Replace the Value with no more than four monthly Cycle Payment days, separated by commas. For example, enter 1,15 if payments are made on the first and fifteenth day of every month.
Days past 31 will be ignored.
If 29, 30, or 31 is entered, months with fewer days will use the last day of the month.
In the Payment Terms form, a Cycle Pmt column appears. To enable Cycle Payment for a Code, select the Cycle Pmt check box in its row.
When an operations invoice uses a Payment Term with Cycle Payment enabled, Due Date = Period Basis + Period (rounded up to the next Cycle Payment day).
Example: Demurrage Invoice Due Upon Discharge
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After posting the Demurrage Invoice, discharge operations are delayed by 3 days.The Receivables Summary will have the following dates:
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| title | Related Configuration Flags |
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CFGActRequirePaymentTerms | When enabled, Payment Terms are a required field on the Transaction Data Entry form. | CFGActAllowDueDateBeforeInvDate | When enabled, the system will allow the user to enter due date earlier than invoice date on the Transaction Data Entry form. | CFGActDueDateAfterPost | When enabled, the Due Date field in receivable invoices has a hyperlink that opens a window: Update Due Date. Even when the transaction is posted, the user can enter the due date of the invoice. | CFGActEnableCalculatedDueDate | When enabled, Invoice Calculated Due Date |
column column in the Payables/Receivables Summary dataset will be calculated based on voyage itinerary and transshipment information for the cargo (freight invoices only). | CFGOpsRequirePaymentTerms | When enabled, |
the Payment Terms field the Payment Terms field is required on all operations invoices. On |
the the Laytime Calculation Claim tab, the Payment Terms field is not required until an Invoice Number is generated. | CFGOpsEnableCyclePayments | If an operations invoices has a Payment Terms field, you can set up Cycle Payment, which calculates up to four Due Dates per month. To set up Cycle Payment, do the following: Edit configuration flag CFGOpsEnableCyclePayments: Replace the Value with no more than four monthly Cycle Payment days, separated by commas. For example, enter 1,15 if payments are made on the first and fifteenth day of every month. Days past 31 will be ignored. If 29, 30, or 31 is entered, months with fewer days will use the last day of the month.
On the Payment Terms form, a Cycle Pmt column appears. To enable Cycle Payment for a Code, select the Cycle Pmt check box in its row.
When an operations invoice uses a Payment Term with Cycle Payment enabled, Due Date = Period Basis + Period (rounded up to the next Cycle Payment day).
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