Customer Payment Terms
Payment terms are the agreements between parties to set expectations for payments such as when the customer needs to pay for the service. AR Payment terms decides the due date for an invoice by adding the number of due days with service date.
While defining payment terms , enter payment term name and number of due days.
For immediate payment terms, payment is already due and number of due days is zero.
Foundry Bean allows you to add any number of payment terms in the system as par your business requirement.
Payment Terms are entered while entering sales order , quotation and sales invoices.
Due date is derived by adding number of due days with invoice date.
Entering AR Payment Term
To see the list of payment terms click “Ar Payment Terms” in AR setup.
To see the details or edit a payment term, “Select” and click “Edit”. you can edit an existing AR Payment term.
To enter a new payment term , click “AR Payment Term”. A new payment type form will appear in the screen.
Foundry Bean billing module comes with predefined payment terms for Net 30, Net 45 , Net 60 and Immediate.