Invoice Integration - Payment Terms

  • Updated

The cXML standard provides a way to indicate when an invoice is due and if any discounts apply for early payment. This is defined within the <PaymentTerm> element.

 

Standard cXML Payment Term Elements

Element/AttributePurposeNotes
payInNumberOfDaysMandatory. Indicates the invoice must be paid within a certain number of days after the invoice effective date (the "net" term). 
<Discount>Indicates an early payment discount is available. The discount applies if the invoice is paid within the time specified by <DiscountDueDays>. 
<DiscountPercent percent>The percentage of the discount term (e.g., percent="2" for a 2% discount). 
<DiscountDueDays>The number of days after the invoice effective date before which payment must be made to receive the discount. 
<Extrinsic name>Can be used to capture additional information, such as the full payment due date or a payment code.The name attribute is used to define the custom field.

Example Standard cXML Structures

Unimarket recommends including both the discount percentage and the discount due days explicitly, along with an <Extrinsic> to capture a unique payment code.

ElementDescription
payInNumberOfDays='30'Sets the net payment term (Net 30).
<DiscountPercent percent='2'/>Specifies the 2% discount rate.
<DiscountDueDays>10</DiscountDueDays>Specifies payment must be made within 10 days to qualify for the discount.
<Extrinsic name='PaymentCode'>Net30Discount10</Extrinsic>Custom field to provide the full payment term code.

The following examples show typical representations of payment terms:

ExampleDescription
Net 45 (No Discount)<PaymentTerm payInNumberOfDays="45">
Net 30 (No Discount)<PaymentTerm payInNumberOfDays="30">
2% Discount for Net 30

<PaymentTerm payInNumberOfDays="30">


 

<Discount>


 

<DiscountPercent percent="2">


 

</Discount>


 

</PaymentTerm>

Example of PaymentTerms:

<PaymentTerm payInNumberOfDays="45">
</PaymentTerm>
<PaymentTerm payInNumberOfDays="30">
  <Discount>
    <DiscountPercent percent="2">
  </Discount>
</PaymentTerm>
<PaymentTerm payInNumberOfDays="20">
  <Discount>
    <DiscountPercent percent="3">
  </Discount>
</PaymentTerm>

 

  • Payment Terms display the code in the payInNumberOfDays field and adding an Extrinsic (NetDueDays) to show the actual Net Days.

 

Unimarket Recommended cXML Structure

<PaymentTerm payInNumberOfDays='30'>
   <Discount>
      <DiscountPercent percent='2' />
      <DiscountDueDays>10</DiscountDueDays>
   </Discount>
   <Extrinsic name='PaymentCode'>Net30Discount10</Extrinsic>
</PaymentTerm>