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About contract terms

Important! When entering the discount date and due date for a job, you must also indicate the billing cycle.

Contract terms
Term	Description
Finance Rate	Enter the finance rate to apply when payments are late.
Retention Rate	Enter the percent of the entire contract withheld as retention. When you enter an invoice, Sage 100 Contractor automatically calculates retention for the invoice.
Discount Rate	Enter the discount rate.
Due Date	Indicates the date payment is due.
Discount Terms	Indicates the date by which payment is due for the client to receive a discount.
Contract Amount	Indicates the total amount of the contract, excluding sales tax.

Tip: If you have indicated a client number in the job record, Sage 100 Contractor uses the term rates from the client record.