Pay Term

Pay Term

A Pay Term defines the payment due period for a transaction.

For example:

• If a Pay Term of 10 days is set for a sale or purchase, the payment is expected to be completed within 10 days from the transaction date.

This helps businesses manage and track upcoming dues effectively.

How to Set

1. While creating a Sale or Purchase, locate the Pay Term field.
2. Enter the duration in Days or Months.
3. Save the transaction.

Result

• The system automatically calculates the due date based on the Pay Term.
• The transaction will be tracked as due until payment is completed.

Due Payment Report on Dashboard

The Dashboard displays a Due Payment Alert to help monitor upcoming payments.

How It Works

• Transactions with a Pay Term due within the next 7 days are automatically shown.
• These entries act as reminders for pending payment.

Benefits

• Track upcoming dues in real-time.
• Enable timely follow-ups with customers and suppliers.
• Improve overall cash flow management.

Setting Default Payment Term

Customer/Supplier-Level Pay Term

Set custom Pay Terms for specific Customers or Suppliers.

Steps:

1. Go to Contacts → Customers/Suppliers List
2. Click Actions → Edit for the required contact
3. Set the Pay Term
4. Save

Result:

• The Pay Term will be applied only to that specific customer/supplier
• When this customer/supplier is selected during a sale/purchase, the applied pay term is set for that sale/purchase.

Making Pay Term Mandatory (Pay Term Required)

You can enforce Pay Term entry for every transaction by enabling the Pay Term Required option.

How to Enable

1. Go to Settings → Business Settings
2. Locate the Pay Term Required checkbox
3. Enable the checkbox and Save

Result

• The Pay Term field becomes mandatory while creating a Sale
• Users must enter a Pay Term before completing the transaction
• Ensures consistent tracking of credit periods and due payments

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