As of JD Edwards EnterpriseOne Release 9.2, the Financial Management Fundamentals Implementation Guide has been updated to include information about entering translations for payment terms.
The AR reports, Statement Print Report (R03B5001) and Credit Card Statement Print Report (R03B5003), print the entered translations based on your customer language preference. The rest of the transaction reports print the entered translations based on your user profile language preference.
More information regarding this process can be found in solution New Enhancement – Address Book and Payment Term Translation EnterpriseOne 9.2 (Doc ID 2317467.1)
The new enhancements are also document in the JD Edwards EnterpriseOne Applications Financial Management Fundamentals Implementation Guide: