Simple Invoices

    Payment Terms

    Payment terms define when an invoice is due. The system calculates the due date automatically based on the term selected when creating an invoice.

    Managing Payment Terms

    1. Go to Settings → Payment Terms
    2. View, add, edit, or delete payment terms
    3. Assign a default term for each invoice preference

    Creating a Payment Term

    FieldDescription
    CodeUnique uppercase identifier (e.g., NET_30, EOM)
    LabelDisplay name shown on invoices (e.g., "Net 30 Days")
    Calculation KindHow the due date is computed (see below)
    ParameterNumber of days or day-of-month (depends on calculation kind)
    Sort OrderOrder in which terms appear in dropdown lists

    Calculation Kinds

    KindDescriptionParameter
    NET_DAYSInvoice date + N daysNumber of days (e.g., 30)
    EOMLast calendar day of the invoice monthNot used
    EOM_PLUS_DAYSLast day of invoice month + N daysNumber of days (e.g., 15)
    MFI_DAYNth day of the month following the invoice monthDay of month (e.g., 15)

    Examples

    • NET_DAYS with parameter 30: Invoice dated March 5 → due April 4
    • EOM: Invoice dated March 5 → due March 31
    • EOM_PLUS_DAYS with parameter 15: Invoice dated March 5 → due April 15
    • MFI_DAY with parameter 15: Invoice dated March 5 → due April 15

    Built-in Payment Terms

    CodeCalculation KindParameterDescription
    DueOnReceiptNET_DAYS0Payment due immediately
    NET_15NET_DAYS15Payment due in 15 days
    NET_30NET_DAYS30Payment due in 30 days
    EOMEOM:End of invoice month
    EOM_PLUS_15EOM_PLUS_DAYS1515 days after month end
    MFI_DAY_15MFI_DAY1515th of following month

    How Payment Terms Affect Invoices

    • When a payment term is selected on an invoice, the due date is calculated automatically
    • The due date is stored with the invoice and shown in invoice views, PDFs, and the customer portal
    • If no payment term is selected, the due date displays as "-"
    • The due date field is read-only on the invoice form