Defining Payment Terms

Payment terms are used to specify when payment is due, in relation to the order date or ship date. For example, payment terms might include terms such as Net 10, Net 20, Net 30, Net 60. Users select them on the Payments view tab of a quote or order.

To define a new payment term

1. Navigate to the Administration - Data screen, Orders, and then the Payment Terms view.

2. In the Payment Terms list, add a new record.

3. Enter a name for this payment term and complete appropriate fields to define the payment terms.

To change settings for current payment terms

1. Navigate to the Administration - Data screen, Orders, and then the Payment Terms view.

2. In the Payment Terms list, select the appropriate record and make the necessary changes.