Using Terms of Payment
Published on
October 30, 2023 at 9:50:48 AM PDT October 30, 2023 at 9:50:48 AM PDTth, October 30, 2023 at 9:50:48 AM PDT
After you have created a term record, you can select that term on invoices and customer records to set payment terms. When you select a term on a customer's record, that term defaults on bills to the customer. You can also set terms on each invoice individually.
If you always require the same payment terms for a customer, you can set the default terms on the customer record. Then, when you select the customer on an invoice, their terms automatically appear.
To set default terms on an existing customer record:
Go toLists > Relationships > Customers.
ClickEditnext to the customer's name.
On the customer record, click theFinancialsubtab.
Under Account Information, in theTermsfield, select the term you want to default for this customer.
ClickSave.
Now, the term you chose defaults on the customer's invoices. After you have set default terms for a customer, you can still change the terms on any individual invoice.
To set payment terms on an invoice:
Go toCustomers > Sales > Create Invoices.
On the Invoice in theCustomerfield, choose the customer you are billing and fill in the appropriate information.
Click theBillingsubtab.
Under Billing Information, in theTermsfield, choose the terms of payment for this invoice.
ClickSave.
Now, the terms of payment for this invoice are set according to the term you defined.