On the form, you can specify a description for the payment terms and the payment schedule.

The Sales Payment Terms (create) form

In the Description field enter the payment terms description that will be displayed in the system interface and in drop-down lists.

<Auto> in the Code field indicates that a unique code for the new payment terms is assigned automatically when you save the master record.

Use the Cash Type radio buttons to select the projected type of customer payment: Cash, Non-Cash (Cashless), or Unknown (the default option).

Use a table to define a payment schedule. There can be any number of payment installments (stages) totaling exactly 100% of the payment amount.

Click Add to add an installment type (stage):

• Prepayment: If this stage type is used, the customer must pay this installment in advance; only then the entity will ship the goods. If you need to block the customer new orders before the prepayment is made, select the Block Supplying option. If you need to block shipping of the goods for this order before the prepayment is made, select the Block Shipping option.
• Payment on Delivery: This installment must be paid by the customer on delivery of the goods and services (when the goods are received by the customer).
• Credit: This installment must be paid within the specified number of days after the goods had been delivered.

If the sales payment terms can be considered as a member of a certain group of payment terms, select this group in the Folder field (to create a new group, click the button in the Groups drop-down list).

The toolbar buttons

Click the Save button to save the new sales payment terms or the Save and close button to save the payment terms and close the form.