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      Set up customer payment terms  

      Overview: 

      • Learn to set up customer payment terms  

      Why set up customer payment terms?  


      Setting up customer payment terms helps your business establish clear expectations for payment timelines so that your customers are aligned on when their payments are due.  

      How to set up customer payment terms?  

      1. Search for Payment Terms in the top right-hand corner of the page. Select the related link. The payment terms page displays.   
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      2. Select + New to add a new payment term.   
      3. Create the payment term business rule as follows:  
        1. Code: Enter a unique identifier for the payment term, such as NET30 for a 30-day net payment term. 
        2. Due Date Calculation: Enter the formula to calculate the payment term due date. If payment is due 30 days after the invoice date, enter 30D.  
        3. Discount Date Calculation: Enter a discount if there is an early payment. If a discount is given when the invoice is paid within 10 days, enter 10D.  
        4. Discount %: If there is a discount percentage allowed when the invoice is paid before the due date, enter the percentage here.   
        5. Description: Enter the description of the payment term such as Net 30 Days.  
      4. You’ve set up your payment terms.  

      Note: You can assign these payment terms to your customers on the customer card in the Payment Terms Code field in the Invoicing section.  Once payment terms are set up, these can be used for your Vendors as well.  

       

        

      What’s next?  

      Find out how to set up your customer for direct debit.

        

      Need more help?    

      No problem, that's what we're here for. Reach out to support@wiise.com anytime you can't find what you're looking for.