Payment terms for debtors and creditors

This article will tell you how to set up payment terms for invoices and what to be aware of when changing payment terms on debtors and manually on the invoice.

Setting up payment terms

Under global settings you have the ability to setup new or change existing payment terms.

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Invoice month sets the payment date at the end of the month + # numbers of days.

 

You can expand each line, revealing the option to add translations for each payment term. It will default to the standard text if there’s no translation.

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Change payment terms for debtors

When you wish to change payment terms for your debtors (or customers) you need to be aware of system variable 190.

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This system variable tells the system where the payment terms should come from. As you can set the payment terms on either the customer or the debtor this system variable tells you which is the importen to change.

Change on customer

When you wish to change on the customer you can do this either in the resource list

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Or under settings and client & resources

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Change on debtor

When you need to change the payment terms on the debtor you need to do this under finance & administration and debtor list.

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Change manually on the invoice

You can also change the payment terms manually on the invoices. And also the due date, payment terms text and method of payment. If you wish to do this you need to change system variable 773

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In this system variable you have the following choices

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