How do I enter customer and supplier payment terms?

Summary

This article explains how to set the payment terms per customer and supplier. Options include a payment period, specific date and end of month terms.

More Information

Follow this article to create a new customer or supplier record or search for an existing account.

• Go to the [Invoicing] tab.
• Select the "Credit Units" to apply to the account; 'Days' or 'Months'.
• If 'Days' is selected, enter the number of days in 'Credit Period'.
• If 'Months' is selected:
  • Enter '1' in 'Credit Period'
  • Select the 'Day of month' payment is due e.g. a specific date or the 'Last' day of the month (for any invoice due in February if you select the 29th or 30th the system will automatically revert to the last day of February).
• Click [Done] and [Accept].

Supplier Payment Due Dates

When posting a Purchase invoice the due date is calculated based on the supplier payment terms. You may overwrite the due date while posting a specific invoice.

The due date is displayed in Purchase Ledger Payments and Bulk Payments.

The due date can also be viewed and amended from Supplier History.

In " Reports & Settings Maintenance Options System Administrator Platinum Settings" make sure "Payment & settlement periods as dates?" is set to 'Yes' to ensure the payment due date is displayed within Purchase Ledger Postings, once calculated.

Customer Payment Due Dates

When producing a Sales invoice the due date is calculated based on the customer payment terms.

The due date can be viewed and amended from Customer History.

See also

• Creating a new customer or supplier
• Do I have to remember all these customer and supplier codes?
• How do I edit an Invoice after it has been posted?
• Recommended accounting routines

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Keywords AND Misspellings

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