Apply Default Payment Terms To An Account

Payment Terms lets you set expected payments from customers when you create a Quote in an Account.

The optional Terms field is for payment policies like Net 10, Net 30 or Due on Receipt and can be pulled into Quote & Order Forms. Deposits can be established as a percentage or a fixed amount and are shown in Quote & Order Lines.

Different Default Payment Terms can be applied to different Accounts. Each Account that uses a set of Default Payment Terms must have those terms applied individually.

Applying Default Payment Terms to a  Price List only applies those Terms to Standalone Quotes. See Related Articles below to apply Default Payment Terms to a Price List for Standalone Quotes or to manually apply Payment Terms to a Quote or Order.


There are two steps to the process of applying  Default Payment Terms to an Account.

Step One: Default Payment Terms must be created in your Settings.

Step Two: The appropriate Terms must be applied to each Account.


STEP ONE: CREATE DEFAULT PAYMENT TERMS

  1. Go to Settings > Quote & Order > Default Payment Terms.
  2. Click on Create Default Payment Term.
  3. Enter a Name for this particular set of terms and an optional Terms. If you want Terms to show when printing or emailing, this is the only Field that is displayed.
  4. Select if it is a Percentage or Amount of the total then enter Deposit and Descriptions.create default payment terms

STEP TWO: APPLY DEFAULT PAYMENT TERMS TO AN ACCOUNT

  1. Go to Settings > Account > Accounts > open an Account by clicking on the Account Name.
  2. Under Price Lists, click on the name of the Price List to edit.
  3. Select the Default Payment Terms from the drop-down list.
  4. Save and repeat for each Price List this Account uses.
  5. Go back to your list of Accounts and apply the Default Payment Terms to each Account.

Apply default terms to an account

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