Payment terms allow you to automatically determine when an invoice should be paid by the client or when you need to pay the supplier. This is convenient for cash flow control, reporting, and accounting automation.
Step 1: Create a new payment term
1. Go to the 'Invoicing' module - 'Settings' - 'Payment Terms'. Click ‘New’.
2. Specify Name – a clear name for the term, e.g.: ‘30 days’, ‘Installment Payment’. Click Add line for each payment:
o Percentage or amount – for example, 30% for the first payment, 70% for the second.
o From date – specify the number of days from the invoice date or the end of the month.
3. If necessary, set up a discount for early payment (it will be activated at the time of payment matching):
Step 2: Assign the payment term to the client or supplier
1. In the client card, go to the 'Sales and Purchases' tab and fill in the 'Payment Terms' field:
2. Now, when creating an invoice, the system automatically inserts this term.