Set up your payment terms

Transcript

Select a time to play the video from that moment.

1. 0:01

   This video follows Receive your first stock. Payment terms tell your customer when an invoice must be paid, and a new company has none yet, so we add the two most common ones.

2. 0:18

   Sign in, then open System, Apps Settings, Invoices and Billing. The settings open on Payment Terms, and on a new company this list is still empty.

3. 0:39

   Click Add Payment Term. Name it Net 30, enter thirty days, and add a short text your customer will understand. Then save.

4. 0:59

   Add a second term, Due on receipt, with zero days, for customers who pay straight away. Save it too.

5. 1:13

   Both terms are now in the list. The invoice adds these days to its date to set the due date, and the overdue reminders later count from that date.

6. 1:23

   Your payment terms are ready, and the next video picks one of them when invoicing the customer. Next, watch Invoice your customer and get it approved. Thank you for watching.