Creating Payment Terms
Modifying Payment Terms
Deleting Payment Terms
Multiple payment terms can be established for sales invoices. If you use an external sales ledger, the payment term codes must be the same as in the base system. The default payment term is also defined in general settings and can be specified in customer information. The payment term can also be changed directly on the invoice.
Examples of payment terms:
Creating Payment Terms
- Select Settings - Discounts
- Click the Create New Payment Term button
- Complete the information in the pop-up window
- Save the information with the Save as New button.
Enter the code for the payment term. Note! The payment term code must be the same as in the sales ledger.
Net due date is the invoice due date (invoice date + net payment days = due date).
Discount 1, days - If the invoice is paid within this time -> discount 1 is valid.
Discount 2, days - If the invoice is paid within this time -> discount 2 is valid.
Text - the entire payment term will appear in this field
Discount 1 = Discount percentage for the first days. The discount percentage can be entered in the field either with a minus sign or without.
Like this:
14 days net, 7 days -2%
14 days net, 7 days 2%
Discount 2 = Discount percentage for the second days. The discount percentage can be entered in the field either with a minus sign or without, similar to Discount 1.
Modifying Payment Terms
- Click Settings - Payment Terms
- Select the payment term whose information you want to modify by double-clicking on the corresponding row. The payment term details will open in the lower part of the window, in edit mode.
- Save the changes with the Save Changes button.
Deleting Payment Terms
- Click Settings - Discounts
- Select the payment term to be deleted by clicking on the payment term row -> the selected row will turn blue
- Click the Delete Selected button (at the top of the window) -> the selected payment term will be deleted.
