====== ======Payment Terms

This screen allows you to configure customer payment terms.

Using the screen

===== =====Access: Tools → Admin → Repository → Payment Terms

The condition type is the calculation method used to determine the payment term.

The following options are available:

• Net term : in this method, a number of days is simply added to the current date. For example, for an invoice dated 10 August, a 30-day payment term would result in the invoice being due on 10 September (10 August + 30 days).
• Date of the month : with this method, the invoice is due on the xth day of the month. For example, for an invoice dated 10/08 with a term of 30 days and a due date of the 15th, the due date would be 15 September (the ‘15th’ following the gross due date, which was 10 September).
• Time limit + due date : in this method, a payment period is applied, and then the specific date of the month is taken. For example, for our invoice dated 10/08, if we set a 30-day payment period starting on the 5th, it will be due on 5/10 (10/08 + 30 days = s 10/09, and the next 5th of the month is in October (5/10))
• Instalments : with this method, you select a number of instalments and a frequency. For example, if you choose 12 instalments and a monthly frequency, you will have 12 monthly payments. You do not need to specify the number of instalments and/or the frequency: in this case, these two details will be determined when the payment schedule for the invoice is generated, at the time the invoice is created. If you set the number of instalments to zero, you will be able to enter any number of instalments when linking the payment schedule to the invoice. However, if you specify a particular number of instalments in the instalment breakdown, the payment schedule linked to the invoice will necessarily have the same number of instalments.
• End of financial year : in this case, the due date will be the end of the financial year.

To set end-of-month payment terms (for example, 30 days to the end of the month), simply tick the “End of month” box. In this case, the due date for our invoice dated 10/08 would be 30/09.

The “cash” payment term (ID=1) cannot be deleted, as it is used in certain functions within Gestan.

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