Your invoice payment terms will communicate to your client when their payment is due. The payment terms will be listed on their invoice.
To set up or edit your payment terms, click on Settings in your navigation menu, then click "Financial/Payments"
In your Financial and Payments options, you'll choose Invoice Terms.
All invoicing terms available are listed in this section, e.g. NET15, NET30, and will dictate the due date of invoices for each transaction. Invoice terms are applied to client types, and you can have multiple terms if you have different terms with different customers. To add a new term, you'll click the green Add Term button.
A new window will pop up where you can create the new term. You'll need to create a name, add the number of days before payment is required, and whether that is based upon the creation date of the invoice or the event date. The name of the term should match the number of days before payment. For example, if an invoice should be fully paid in 7 days, the name for the term is NET7. If you require immediate payment (PIA, or Payment In Advance), enter 0 in the“number of days” field.
Once a term is created, you can also edit or delete the term with action buttons under the Actions column. The trash can icon will delete the term and the pencil icon will enable you to edit the term.
To assign the term to specific customer types, you'll add those types in the details of the term. If you leave this field blank, the terms will be applicable to any customers not otherwise assigned. To mark a payment term as the default (meaning it will be the term used unless otherwise specified) you use the toggle button under the Mark Default column.
If you have any questions about adding, editing, or applying invoice payment terms please reach out to our team.