Reference: Payment Terms

From PlantX.net

Define a list of Payment Terms in PlantX.net to control when payments are due on invoices by calculating past due dates.

Assign payment terms to customer accounts to set the default terms used on any subsequent orders created for the customer. If required, the terms on the order can be changed individually and are used as the default for any invoices created from the order. Finally, the payment terms can be changed on the invoice for any extraordinary reason.

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Properties

Description: The description of the terms that print on the invoice.

Examples
Net Due 
Net Due on Receipt
Net 30              {due within 30 days of invoice}
25%DEP, Net 30      {25% deposit and the net within 30 days}
2% 10 Net 30        {2% discount if paid within 10 days, net due in 30 days}

Discount: The amount of discount given if the invoice is paid in full within a set number of days defined by Discount Days

Discount Days: The number of days from the date on the invoice that the customer has to pay their invoice in order to received the discounted terms.

Net Days: The number of days past the invoice date that the customer is extended credit for invoices. All payments must be received within the Net Days.

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