Credit Terms allow you to set up a standard set of rules for calculating default invoice due dates, by applying a specified number of days from the invoice date or end of month (eg. 60 days from end of month).
You can edit an Employer or Client to specify their default Credit terms:
When adding an invoice for the client or employer, their default Credit terms are selected and used to calculate the default invoice due date:
Open the Configuration Manager by choosing Manage > Configuration from the menus. The Configuration Manager displays an alphabetically ordered explorer tree.
- Adding a new Credit term
- Editing an existing Credit term
- Deleting a Credit term
- Viewing the Credit terms report
Adding a new Credit Term
Right-click Credit Terms and choose Add new credit term item:
This will open the Credit Term Wizard:
- Enter a Name for the Credit term.
- Optionally enter a Code for the Credit term.
- Enter a set Number of dads of credit for the generation period.
- Select whether the Credit days start from the Invoice Date or the End of Month.
- Ticking This is the default for new clients will automatically select this item when a new client is created.
- Ticking This is the default for new employers will automatically select this item when a new employer is created.
- This credit term is inactive indicates if the Credit term should be archived. If ticked, the Credit Term will be added/moved to the Archived Credit terms branch.
- Optionally provide a Description for the Credit term.
- Click Next and then Finish.
Editing an existing Credit Term
- Expand Credit terms.
- Right-click the Credit Term and choose Edit credit term item.
This will open the Credit Term Wizard, where you can make changes.
Deleting a Credit Term
- Expand Credit terms.
- Right-click the Credit Term and choose Delete credit term item.
- Click Yes when asked to confirm the delete.
If an error occurs, the Credit Term has likely been used previously and is included in historical data. In this case, you will need to archive the Credit Term to remove it from active use.
Viewing the Credit Term report
- Right-click Credit terms and choose Show credit term item report:
The report will be displayed in a new tab/window.