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This master data registers the payment terms that are used when the entity is selling goods and services to customers. The payment terms define the due date for customer payment or payment schedule. The payment terms are used to evaluate cash flows and to correctly calculate the amounts owed by customers (the Accounts Receivable Aging report).

The Sales Payment Terms list

The list contains all the sales payment terms that can be used in the system. Sales payment terms are listed with their brief descriptions and codes.
As the list is populated, you can change its display settings. Click More on the toolbar and select Configure list. For more information on the list settings, refer to Working with the item list.

At any time, you can add new Sales Payment Terms. You can select the default payment terms on the Administration > Settings > Sales form.

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To create new Sales Payment Terms, click Create. For details, refer to Adding the Sales Payment Terms.

For description of other buttons, refer to List toolbar.

The hierarchic structure is built using the groups; you can use the Create Group button on the toolbar to create groups of similar payment terms. To create a group, enter its description. If the created group is a part of another group, specify the parent group in the Folder field (see the screenshot below).

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On this form, only the Description field is required. To save the new group, click Save, to save the new group and close the form, click Save and close.

See also

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