When you create a customer you must set the customer's payment terms. Enter the different payment terms your company allows in this section. You need to create at least one payment term.

• Code - an alphanumeric code assigned to the payment term.
• Description - a description of the payment term.
• Accounts - the accounts this payment term is available to. The options are:
• Customer
• Supplier
• Customer and Supplier
• Type - the method by which payment due dates are calculated. The options are:
• C.O.D. - the payment is due immediately.
• Days after invoice date - the payment is due 'x' number of days from after the invoice date. The number of days is set in the 'Days' field.
• Day of month of invoice - the payment is due on the day of the invoice month specified in 'Days'.
• Days after EOM - payment is due 'x' days after the end of the invoice month. The number of days is set in the 'Days'.
• Day of month after EOM - the payment is due on day 'x' of next month. The day of the month is set in the 'Days' field.
• Days - number of days from invoice date or a day next month (depends on above). It is only used when 'Type' is set to 'Days from invoice date' or 'Day of next month'.