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
1
Number of days until total invoice amount is due (discount not applicable)
R0102: At least one of PYT-01 or PYT-02 is required
PYT-02
Terms Type Code
Identifier (ID)
Conditional
2
2
1
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
1
The numeric value of the day of the month between 1 and the maximum day of the month being referenced
C0302: If PYT-03 is present, then PYT-02 is required
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
1
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
1
Terms discount percentage, expressed as a percent, available to the purchaser if an invoice is paid on or before the Terms Discount Due Date
C0504: If PYT-05 is present, then PYT-04 is required
PYT05 is the high end of terms discount if a range exists.
PYT-06
Terms Type Code
Identifier (ID)
Optional
2
2
1
Code identifying type of payment terms
C0604: If PYT-06 is present, then PYT-04 is required
PYT06 provides the terms required to obtain discount.
PYT-07
Terms Discount Days Due
Numeric (N0)
Conditional
1
3
1
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
1
Number of days in the terms discount period by which payment is due if terms discount is earned
C0807: If PYT-08 is present, then PYT-07 is required
PYT08 is the high end of discount days offered if a range exists.

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