Define Payment terms to link with your Customers and Suppliers, this will calculate when invoices are due to be paid.
Payment terms is your agreement with your Customer or Supplier on when transactions will be paid. Enterpryze will use this information to calculate the Due Date on your Invoices so that you know when it is due to be paid.
There will be a list of terms available when you create your organisation which you can add to or edit as required.
To add a new term, click on Add new payment term
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Code – this is the name of the term
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Due Date – this is the date field you can choose from that Enterpryze will use to calculate the Due Date on your Invoices. In the example below this is set to Document date but can also be based on Posting Date.
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Start from – this defaults to None, you can choose to start the terms from the end of the month (Month-end), halfway through the month (Half month) or at the start of the month (Month start)
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Additional Months – this defaults to zero, you can enter the number of months which gets added to the terms
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Additional Days – this defaults to zero, you can enter the number of days which gets added to the terms. As per example below the ’60 days’ terms has 60 additional days, this will add 60 days onto the Document date of an invoice to get the Due Date.
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Edit – you can edit the terms and save each row
TIP: payment terms are assigned to your Customers/Suppliers setup screen in Companies – Customers under Finances and Taxes.
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