Definition of Payment Terms
Use payment terms configured per Company to use the payment conditions agreed by their contract with your company.
A payment term is a set of conditions required for the sale to be completed, e.g. the period that is allowed to a buyer to pay off the amount due. Payment terms may also include a “cash in advance” requirement, cash collection on delivery, a deferred payment period of 10/20/30 days, etc.
Data grid Payment Terms
Get an overview of all payment terms in the system.
- Click on Customers in the menu and then go to → Payment Terms
- Label: A label that is informative about the Payment Term because it is exposed as one of the payment options
- Code: Unique Payment Term code
- Term: The number of Payment Term days
Product overview
An overview of an individual product.
- Navigate to Customers → Payment Terms → Click on a Payment Term. By clicking a Payment Term in the Payment Term overview, a Payment Term ‘view’ page will open.
On this page you find the following information:
General
- Label: A label that is informative about the Payment Term because it is exposed as one of the payment options.
- Code: Unique Payment Term code
- Term: The number of Payment Term days
Create a Payment Term
- Navigate to Customers → Payment Terms
- Click on the ”Create Payment Term” button in the top right of the screen.
- Fill in the following details:
General
- Name: Assign a label that is informative about the Payment Term because it is exposed as one of the payment options.
- Code: Assign a unique Payment Term code
- Term: The number of Payment Term days
Click save and close