Invoice Terms may evolve over time. When
the Invoice Terms change, you can create a
new version of the terms that better suits
your needs. This allows you to add another
version of the existing terms without
changing the associated Billing Profile as
well as keeping a historical record of the
old terms.
This articles guides you through the steps
for adding a new Invoice Term version.
See Editing
Invoice Terms for other
options on editing existing terms.
This
Knowledgebase Article is based
on
information from Confluence
Page ID
8650780. If
updated, please review the
corresponding
Confluence
source.
Parties Responsible for Process
Accounting
Before You Begin
You must have the appropriate action
entitlements in order to create a new
Invoice Term version. Please contact
Support to review and adjust your
action
entitlements.
Multiple Versions
If you wish to manage past or future
dated
versions of the Invoice Terms you can
select the Terms version from the
dropdown
menu toward the upper-right
corner.
You may only have access to delete certain terms based on your user entitlements.
Required Entitlements
Add Invoice Term Version allows users to delete the latest effective-dated Invoice Terms version.
Example: In the picture above, this user can delete the 06/03/2022 version.
Add Invoice Term Version AND Manage Current Invoice Term Version allows users to delete any current or future dated invoice terms.
Example: A user with these entitlements can delete the 03/20/2022, 05/01/2022, and 06/03/2022 versions.
Add Invoice Terms Version AND Manage Future Invoice Term Version allows users to delete any future dated Invoice Terms.
Example: A user with these entitlements can delete the 05/01/2022 and 06/03/2022 versions.
Delete Invoice Terms Version AND Manage Historical Invoice Term Version allows users to delete any past, current, or future dated Invoice terms.
Example: With these entitlements, a user can delete any version except 02/01/2022.
Steps
On the company record, select the Invoice Terms tab.
Open the invoice term you wish to update.
On the Edit Invoice Terms screen, select New Version.
This creates a copy of the existing terms without an effective date. The Billing Specialist's user entitlements determines the date options available:
The entitlement Add Invoice Term Version allows the user to set the effective date to any date after the latest effective-dated version.
Manage Current Invoice Term Version allows the user to set the effective date to the current date or to a future date.
Manage Future Invoice Term Version allows the user to set the effective date to any future date.
Manage Historical Invoice Term Version allows the user to set the effective date to any past, current, or future dates.
Update the rest of the term information as needed.
Select Save to confirm your changes.