PYT Historical Payment Terms
PYT Historical Payment Terms
To specify payment terms provided by a vendor to an entity over a historical period
Position
Element
Name
Type
Requirement
Min
Max
Repeat
PYT-01
Terms Net Days
Numeric (N0)
Conditional
1
3
-
Number of days until total invoice amount is due (discount not applicable)
PYT-02
Terms Type Code
Identifier (ID)
Conditional
2
2
-
Code identifying type of payment terms
PYT02 further expands terms net days or provides general term comment.
PYT-03
Day of Month
Numeric (N0)
Optional
1
2
-
The numeric value of the day of the month between 1 and the maximum day of the month being referenced
PYT03 is day of the month payment is due in the month following the invoice.
PYT03 is only used when PYT02 is "33".
PYT-04
Terms Discount Percent
Decimal number (R)
Conditional
1
6
-
Terms discount percentage, expressed as a percent, available to the purchaser if an invoice is paid on or before the Terms Discount Due Date
PYT04 is the low end of terms discount if a range exists.
PYT-05
Terms Discount Percent
Decimal number (R)
Optional
1
6
-
Terms discount percentage, expressed as a percent, available to the purchaser if an invoice is paid on or before the Terms Discount Due Date
PYT05 is the high end of terms discount if a range exists.
PYT-06
Terms Type Code
Identifier (ID)
Optional
2
2
-
Code identifying type of payment terms
PYT06 provides the terms required to obtain discount.
PYT-07
Terms Discount Days Due
Numeric (N0)
Conditional
1
3
-
Number of days in the terms discount period by which payment is due if terms discount is earned
PYT07 is the low end of discount days offered if a range exists.
PYT-08
Terms Discount Days Due
Numeric (N0)
Optional
1
3
-
Number of days in the terms discount period by which payment is due if terms discount is earned
PYT08 is the high end of discount days offered if a range exists.