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Posted March 06, 2025

Creating Payment Term

Contract Full or Finance Full roles are needed to create a payment term.

- Go to Finance → Maintenance → Payment Terms.

- Click the New button and enter the Term Name. Mark it as Is Active and Click Save.

- Click Add New Item to define the payment schedule.

- Choose whether the payment will be based on:

- A percentage of the total invoice (e.g., 20%).

- A fixed amount (e.g., $500).

- Enter the specified amount or percentage in the corresponding text box.

- Select when the payment will be due:

- Due Fixed # Days (e.g., every 10 days from the invoice date or last payment).

- Due by Date (e.g., a specific day of the month or a particular weekday).

- Click Save.

- If you'd like to add an additional schedule to the payment term, click Add New Item and follow the same steps..

Note: You can use the up and down arrows to reorder payment term items if necessary.

Note: After setting up the payment term, you can test it by navigating to the Example tab and generating a payment schedule based on selected dates and amounts to ensure it functions as expected.

Note: You cannot modify a payment term once it is associated with a Customer Invoice.