Terms of payment
Terms of payment are used to specify the period of time to a buyer to pay off the amount due.
You can set up the terms of payment by going to Sales > Terms of payment.
Here you can see that ERPAG is already offering you three types of different terms:
NET 7 - payment is expected in 7 days
NET 30 - payment is expected in 30 days
5 monthly installment - payment is divided in 5 monthly installments
By using the 'Add new' option, you can create as many different terms of payment as you need
The created terms of payment you can add from within the customer and it that case, that will apply always for that customer.
If you add it from the sales order, it will apply only for that particular sales order.
You can always change the terms of payment by choosing a different one from the drop down menu.
EARLY PAYMENT DISCOUNT
If you agreed with your customers to give them specific payment terms, but you want to issue a discount to them if they pay before the due date, you can set them up in the early payment discount section:
To read a more detailed explanation of this option, go to:
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