To create new payment terms, follow the below steps:
Navigate to the Settings > Transactions > Payments;
Click on the green 'Add New Payment Term' button;
Enter the 'Payment Term Name*';
Enter the 'Type*' (i.e. Days, End of Month, End of Week);
Enter the 'Payment Term Duration' (i.e. measured in days);
Choose option to set as 'Default'; and
Click the green 'Create payment term' button and the new payment term will be added to your list.
Creating a Deferred Payment Term
1. Navigate to your Settings > Transactions > Payment > Add New Payment Term;
2. Enter in your preferred Payment Term Name *;
3. Type* enter in as End of Month;
4. Payment Term Duration* enter in as 180 days;
5. Click on Update Payment Term.
To edit payment terms, follow the below steps:
Navigate to the Settings > Transactions > Payments;
Click the 'edit' button next to the payment term you wish to update;
Make any changes required and click the green 'Update Payment Term' button'.
To delete payment terms, follow the below steps:
Navigate to the Payments tab within Settings > Transactions;
Click the 'edit' button next to the payment term you wish to delete;
Note: some payment terms are system default so cannot be edited.Click the red 'delete payment term' button in the top right corner;
Your payment term will be removed from the list of terms.