Setting Up Invoice Payment Terms (Admin)

Modified on Wed, 9 Oct at 5:09 PM

You can set up your payment terms, which dictate due dates for your invoices. Depending on the selected term, due dates are calculated out from the invoice date (or Accounts Receivable date). For example, a bill created on the 8 January with a payment term of 14 days would be due on the 22 January.


CAUTION:  Adding custom invoice payment terms requires you to create PHP-based code to calculate the dates required for the new term. If you do not know PHP, you'll need to work with someone who does. (You might consider working with an Actionstep Certified Consulting Partner.)  You can also review an existing term in the list to see how that term's calculation is set up. For example, this code is used for the 14-day payment term:

 


To set up your payment terms:

  1. In Actionstep, go to Admin > Accounting. The Accounting page appears.
  2. Click Edit for the Accounting preferences section. The Accounting System Preferences page appears.
  3. In the Payment terms section, click Create new payment terms. The New payment terms window appears.
  4. Provide the Description and Calculation code. (See the caution above for information about creating this code.) 
  5. Click Save to save your changes. Or, optionally, select Create another to create a new payment term immediately after you save the current one.
  6. If you want to apply the new payment terms, once the new payment term has been created, click the Default purchase payment terms or Default sale payment terms drop-down list and choose the new term from the list of options. 

 

TIP:  To edit an existing term, click its link. 


Once you've set the default, it will be suggested on the Edit Draft Bill window. You can still click this drop-down list and choose a different term, if needed. (To create a bill, click the global Create button and choose Bill from Billing.)


 

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