Adding/Editing a Payment Term

Adding a Payment Term

• From Main menu >> Accounts Payable >> List of Payment Terms.

• Click on Actions >> New Payment Term.

• Create a Code and enter a Descrip****tio n, in English as well as in French, of the payment term.

• Term Type allows you to create the payment term based on:

  • A specific number of days after the invoice date ("X days after invoicing date") or;
  • A specific day of the month ("The Xth of the following month").

• Enter the number of days after invoice date or day of the month in the Value of X in Term Type box.

• Active will be checked when the payment term is active. To inactivate a payment term, uncheck this box.

• Click on Submit and the payment term will be added in the system.

Editing a Payment Term

• To modify an existing payment term, select it from the List of Payment Terms.

• Make the desired changes and click on Submit to save them.