Setting Payment Terms for Each Customer

While you can put universal terms and conditions on every invoice, you may have payment terms for individual customers, such as Cash on Delivery (C.O.D.) or Net 30 Days.

In your system, you will first define all the different payment terms you offer, then you can assign them to each customer you choose. The payment terms will print on the customer invoice if you have assigned terms to the customer.

To create payment terms:

• Go to Settings.
• Under the Accounting Tab, choose Payment Terms.
• Choose New Payment Term.
• Give a name to the Payment Term. This is what will appear on the invoice. You can choose to add a payment term description.
• If you select the Default box, this payment term will be assigned to new customers automatically.
  NOTE: Only one payment term can be selected as default. If you check this box on a payment term, it will override the default which may have previously existed.

To set a payment term for a customer:

• Go to Customers.
• Select the customer to whom you wish to give payment terms.
• Choose the Accounting Tab
• For Payment Terms, select one from the drop-down menu. If the payment term you want to assign them isn't in the drop-down menu, create it as above, then come back here and assign it.