ERPNext Accounting
What is Payment Terms?
- Payment Terms
- Payment Terms in ERPNext define the due date schedule for invoices, supporting net days, split installments, and discount-for-early-payment rules.
Configuring Payment Terms
Go to Accounting → Payment Terms → New. Set the term name (e.g., "Net 30", "50% advance, 50% on delivery"). Add installment rows with percentage, number of days, and due date basis (Invoice Date, Last Day of Month, etc.).
Applying Payment Terms to Invoices
Assign a Payment Term Template to a Customer or Supplier master. ERPNext auto-populates the schedule on every invoice for that party. The Accounts Receivable Aging report uses due dates from Payment Terms for accurate aging calculations.
Need help with Payment Terms?
Infonoxe Technologies specialises in ERPNext implementation and custom software for Indian businesses.
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