Finance Settings: Terms

Access required
To access the settings, you must be a system administrator.

Payment terms allow you to set the amount of time in which someone has to pay back an amount due. This window allows you to configure various customer payment terms that your organization allows. Terms also allow you to print an appropriate term’s description on Order Entry invoices.

Important
Although you can define multiple payment terms, only one term is applied to orders processed through the standard iMIS cart: the term selected as the Default terms code. That default term is assigned to all orders processed online, regardless of the other terms you have defined.
You must populate the Default terms code field at Settings > Finance > Aging. See Finance Settings: Aging.

To add new payment terms, do to the following:

Go to Settings > Finance > Terms.
Select Add new term:
1. Enter a Terms Code or abbreviation to create the term category.
2. Enter a longer Description that you want to see printed on invoices for the term category. For example, Net 30.
Click Save.

Updated 3 days ago

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