## 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