Best Suited for:
- Back Office users managing billing workflows
- Admins configuring invoice and customer payment settings
Important Information:
- Payment terms define when payment is due after invoicing
- System-generated payment terms cannot be deleted but can be inactivated
- Common examples include: Due Upon Receipt, Net 15, Net 30, Net 45, etc.
- Payment terms can be created and applied to customers and invoices
- Customer payment terms can be batch edited in bulk
Strategic Workflow:
- Standardizes billing expectations across customers
- Automate due dates on invoices for consistent accounts receivable tracking
- Save time by applying changes to multiple customers at once
- Set preferred default payment term within Company Preferences
Process Description:
- Navigate to My Office and Payment Terms
- Create a new payment term, edit or inactivate system-generated ones
- Apply payment terms to customer accounts or invoices
Step-by-Step Instruction:
Creating a New Payment Term:
Go to My Office > Click Payment Terms
Click + Add New
Fill out the information:
- Name (e.g., Net 30, Due Upon Receipt)
- Due In Days (e.g., 30 for Net 30)
- Is Active set to Yes
- Click Save
Inactivating a System-Generated Payment Term:
Go to My Office > Click Payment Terms
Locate the system-generated term that needs to be inactivated
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Select Active and uncheck the box
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Click the blue check-mark to save the changes
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System-generated payment terms cannot be deleted, only inactivated
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Deleting a Custom Payment Term:
Go to My Office > Click Payment Terms
Locate the custom payment term that needs to be deleted and click the trashcan icon to the right of the payment term to delete
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Click Yes
Click Accept
Applying Payment Terms to a Customer:
Go to Customers > Customer List
Click the Customer Name
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Go to the Financial Data tab and click the drop-down within the "Payment Terms" and select the desired Payment Terms
Click Save Customer Account
Applying Payment Terms to an Invoice:
Go to the Invoice and Edit Invoice
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Select the appropriate Payment Term from the dropdown
Save Invoice
Batch Editing Payment Terms for Multiple Customers:
This action cannot be undone. Any changes you make will OVERWRITE existing data on the selected Customer(s).
Go to Customers > Customer List
Select the customer accounts to update and click Edit Selected
Choose the Payment Term from the dropdown and click the blue checkmark
Click Apply to "X" Customer(s), to save the changes
Payment terms applied at the customer level will automatically populate on new invoices for that customer and will not change any retroactively.