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Payment Terms

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Payment Terms

Owned by Kyle Niekamp
Last updated: 06 21, 2022 by Claire Aleman

Overview:

The Payment Terms window allows you to set up and modify standard terms of payment used to bill customers or record vendor invoices. Additionally, you can define and track proximo terms for your vendors. Proximo (or following month) payment terms are issued by vendors and typically reward early or on time payments with invoice discounts.

Benefits:

  • Provides transparency to take advantage of potential discounts for timely payments
  • Improve cash flow for betting timing payments

Roles:

  • Accounts Payable Manager
  • CFO/Controller

Location:

  • Accounts Payable > Setup > Payment Terms

Video:

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