Example of Creating Payment Terms Based on Days

This example demonstrates how to create payment terms that are based on a certain number of days from the invoice terms date.

This table summarizes key decisions for the scenario.

Decisions to Consider	In This Example
Are terms based on amounts or percentages?	Percentages
What are the due dates and discounts?	The due dates and discounts are as follows: First installment: 40 percent due in 10 days, with a discount of 5 percent if paid in 7 days Second installment: 35 percent due in 20 days, with a discount of 3 percent if paid in 15 days Third installment: 25 percent due in 30 days, with a discount of 2 percent if paid in 25 days

Creating Payment Terms Based on Days

1. Navigate to the Manage Payment Terms page.

2. Click Create to open the Create Payment Terms page.

3. In the Name field, enter the payment term name.

4. Click Add Row in the Installments section to create the first installment.

5. Complete the fields, as shown in this table.

   Field	Value
   Due Percent	40
   Days	10
   First Discount Percent	5
   First Discount Days	7

6. Click Add Row in the Installments section to create the second installment.

7. Complete the fields, as shown in this table.

   Field	Value
   Due Percent	35
   Days	20
   First Discount Percent	3
   First Discount Days	15

8. Click Add Row in the Installments section to create the third installment.

9. Complete the fields, as shown in this table.

   Field	Value
   Due Percent	25
   Days	30
   First Discount Percent	2
   First Discount Days	25

10. Click Save.