Payment terms dictate a due date for invoices. They are calculated out from the AR date of the bill. For instance, a bill created on the first with a payment term of 7 days would be due on the eight.
Selecting Defaults and Creating Payment Terms
Admin > Billing Settings > Payment Terms
Select default payment terms to be applied to new invoices. Select Crete new payment terms to define a term unavailable by default. Select any term to edit.
Payment Terms on Bills
By default the payment term set in Billing Settings will be selected for the bill. This can be overriden before finalizing the bill.