Typically, the payment terms specify the period allowed to a buyer to pay off the amount due.

This section helps to make the clients' invoicing easier and faster by allowing to use auto-invoicing profiles. 

Payment Terms List

Click on Configuration → Payment Term → This page will be displayed with the list of available Payment Terms.

Screenshot: Payment Terms List

On this page:

Payment Terms List

 

Column NameDescription
NameThe name of the payment term.
Usage CountThe total of the client who using this payment term.
ActionThe action performed on the payment term.

In this part, we only focus on three columns above. The other columns will be described in the next part.

ButtonDescription

Is used to edit the payment term.

Is used to delete the payment term.

Is used to select the name of Payment Term to query. Click on the arrow, the list of all available payment term will be displayed.

Is used to refresh to get latest the list of the Payment Term.

Is used to query data. Clicking on this button, the result will be displayed.

Is used to set the total of records per a page.

Is used to select the column which will be shown/hidden.

Is used to go to next, previous page. It is also used to go to the specific page by clicking on the number of page.

Adding Payment Term

To add new Payment Term, click on the Create New button, this page will be shown as below:

Screenshot: Adding Payment Term

Adding Payment Term

Field NameDescription
NameThe name of the payment term.
Invoicing Cycle

You can specify the exact day or the frequency of payments here. There are some options as below:

  • Day of month: Invoice on a specific day of the month. You have to select the day in the next dropdown list. Example: If you set the 1st, you have to pay for the 1st of the month.
  • Every: Set the specific number of the day that frequency of payments. You have to select the number of days in the next drop-down list. Example: If you set the number is 40, the second payment will be happened 40 days after the first payment.
  • Day of Week: Invoice on a specific day of the Week. You have to select the day in the next dropdown list. Example: If you set Monday, you have to pay for every Monday of the week.
  • Some days of Month: Set some specific day of the month that frequency of payments. You have to input the day in the next textbox. Days are separated by commas.
  • Twice in a Month: You have to pay twice in a month: 15 and last day.
Grace PeriodPeriod that specifies how much time the client has to pay the bill after he was invoiced, it's the Due Date in invoices.
Notify(Days)Here you can set how many days before the payment date (invoicing date + grace period) reminders will be sent to the client. 
For example, if you will enter 10 as a value, the reminder will be sent 10 days before the payment date. 

After filling in all fields, click Save icon to save and click on Delete icon to remove this record.

 

 

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