Invoice Terms

Invoice terms identify the time period given to customers to pay their invoices (such as 30 days, 90 days, etc.). Payment is considered past due if it is not received within the invoice terms specified on the contract.
Required?
No. The system comes with a set of standard invoice terms. You only need to create additional terms if these default ones do not meet your needs.
Additional Information

The system comes with the following standard terms

  • UPONREC - Payable upon receipt
  • NET10 - Net 10 days
  • NET15 - Net 15 days
  • NET30 - Net 30 days
  • NET60 - Net 60 days

The system uses the invoice terms specified for the Bill To customer (the Owner Bill To in the WMS) as standard. However, invoice terms are also identified for the following record types to support any custom requirements.

  • Customer (the Owner record in WMS)
  • Contract

Fields

Invoice Term/ Description
The name and description that identify these terms.
Due Days
The time period, in days, given to customers to pay their invoices before any penalty occurs (such as late charges).