Setting up payment terms
When raising an invoice, you tell your customer as to when the invoice becomes payable. The term "Payment Terms" stands for this credit period that you allow your customers. To make invoice creation simple and fast, you can set up the various payment terms that you allow your customers in the invoice preferences settings. The procedure is detailed below -
- Click on the "Settings" link at the top right corner.
- Click on the "Terms & Late Fee" link under the "Payment Settings" on the left.
- You can configure your payment terms in this page. Here we have a few entries by default.
- You can add new entries using the "Add New" link. Similarly you can use the "X" to delete an entry.
- Once you are done, click on the "Save" button.
- The values that you have specified here will be listed while creating a new invoice.
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