Lesson 2.2 Exercise 2 - Payment Terms

To create an obligation, you will enter the Obligation ID and complete, or tab through, the entries on the Obligation screen.

Using OF347, select the correct entry for the Prompt Pay Terms field. Check your entry.

00 (No discount, No interest)

01 (No discount, Net 30 days)

02 (No discount, other than net 30 days)

03 (Discount offered, net 30 days)

Tries Remaining: 2

Screenshot of ifmis obligation main screen; Obligation ID is EMW-XXXX-SA-002, Vendor number is V00009188 (ABC computers inc), and default entries are used for doc type, status, FAR Exempt, and the date fields; the cursor is at the prompt payment terms field with 00 showing as the default entry