Billing Terms
Use this form to identify and maintain billing terms to be applied to customers. The Billing Terms code is displayed on the Customers and Vendors forms.
Billing terms (sometimes called the Terms Code) determine the following:
- Due Days: The date an invoice is due to be paid by the customer or vendor.
- Discount Days: The number of days a customer or vendor has to receive a discount.
- Discount Percent: The amount of discount the customer or vendor is to receive.
For each customer or vendor, you can enter a Billing Terms code to use as a default when entering invoices. You must set up each code on the Billing Terms form before you can apply it to a customer or vendor.