Payment Terms (Vendors)
In the Payment Terms subtab, you can configure vendor-specific payment terms and details.
Select or add an Accounting Contact Person.
Set the Tax Rate that will be applied to the vendor’s charges. For details of how to add a new tax rate, see the Add a tax rate guide.
In the Invoice Dates section of this tab, you can:
deselect the Use System Terms checkbox to set up custom terms for this vendor’s payments. If you decide not to use system terms, the fields below become active. Otherwise, the terms set in the
Configuration menu > Clients and Vendors > Vendor Settings > Payment Terms tab will be applied.configure the invoicing dates for this vendor:
You can test the calculation dates you have set. In the Job Deadline Example field, enter any date and click the Show Expected Invoicing Dates button. A popup window with dates calculated for a given deadline is displayed so you can check if the dates were calculated as expected.
Select the reference date that will determine invoice dates.
(Optional) To create invoices at the end of the same month as the reference date, select the end of month checkbox.
(Optional) Select the number of the month and/or days you want to add to the reference date. For example, if you want invoices to be sent two and a half months after the task deadline, select 2 in +”m” month and 15 in +”n” days columns.
In the Payment Terms section of this tab, you can:
select the Default Payment Terms from the dropdown list.
create custom payment terms for this vendor by clicking the Add button. For details of how to create payment terms, see the Configure payment settings for vendors and clients – Define payment terms for vendors and clients guide.
check the details of the selected payment terms.
select the Default Payment Terms for Empty Invoice.
