Payment or invoice terms are automatically populated based on the customers default terms, or if the customer does not have default terms, the system default terms will be populated.
Covered in this article:
Payment terms types available:
- Cash On Delivery (COD)
- Due on Invoice
- Due at End of Month
- Due “x” days from date of invoice
- Due on “x” day of month
- Due “x” days after EOM
- Due on “x” of month after EOM
Setting the default invoice terms:
- From the Neto dashboard, navigate to Setup & Tools > All settings & tools
- Under the Sales Orders & Invoices section, click on Invoice & Statement Settings
- Go to Invoice Settings.
- Select the payment terms next to Default invoice terms.
- Click on Save Changes.
Setting payment terms on a per customer basis:
- Go to Customers > View All Customers and search for the customer you want to change.
- Scroll down to the Payment details section and choose the payment terms under Default Invoice Terms. This will override the system default terms.
- Click on Save
Setting payment terms on an order:
- Go to Orders > View All Orders and search for the order you want to change. Payment terms can only be set for unapproved orders.
- Scroll down to the bottom, of the page to the Pay Later section.
- If needed, set the Payment Due Date to the invoice date.
- Select the payment terms next to Terms.
- Click on Approve. The Payment Due Date will be adjusted to the correct due date based on the terms selected.
Add new payment terms
From the Neto dashboard, go to Setup & Tools > All settings & tools
Under the heading Payments & Tax click on Payment Terms
Click Add New Button
Terms Name - enter a name for the new payment terms.
Terms Type - select if terms are in a number of day, on a certain day of the month or a number of days after the end of the month. Enter the day or number of days in the field that appears.
Status - set to Active. Setting to Inactive will make it unavailable to allocate to customers and orders.
Sort Order - this will set where this payment term will appear in the drop down list of terms. The lowest number will appear at the top and the highest at the bottom of the list.
- Click on Save.