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
PYT01
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
PYT02
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.
PYT03
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".
PYT04
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.
PYT05
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.
PYT06
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.
PYT07
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.
PYT08
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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