Payment Terms
The Payment terms are used in the Sales module, which connects the invoice and customer with their due dates. We might need to operate the Sales entries with dues and without dues, its based on customer, type of business or type of billing, Generally, we have three major types.- Prepayment
- Cash Sales
- Post payment such as due dated payments
To create a Payment Terms, go to Setup > Payment Terms > Add New
We have the terms in the system you can play with it to create the prepayment. And ofcouse, this is most basic setup, we have given our basic thing here. you can modify it based on your needs. Here two things might be bit completed to hear.
- After no of days,
- Days in following month
You can manage to provide dues in months and days go with second one. if you are giving dues in days, go with first one. And this payment terms are listed in the Customer add new popup and also in the Sales transaction entry forms. You can modify them whenever you need it for specific invoices.