Payment Terms Template

A Payment Terms Template is a named list of Payment Terms whose portions add up to 100%, for example 50% advance and 50% in 30 days. Set it as default on the Customer, Supplier or Company and every new invoice copies it into its Payment Schedule table, creating one due row per term with its own due date and amount. Nothing posts because of the template; Debtors is still debited once for the full grand total. The benefit shows in the Accounts Receivable report, which ages each due row separately, and in Payment Entry, which can allocate against individual rows. Change the template on the invoice before submitting if a deal has special terms.

Each row amount = Grand total x Invoice portion %; Rs 36,160 x 50% = Rs 18,080

1. 01Go to Invoicing > Payment Terms Template > New and name it, for example 50 Advance 50 Net 30.
2. 02Add a row per Payment Term with its Invoice Portion; the portions must total 100.
3. 03Save, then set the template as default on the Customer, Supplier or Company form.
4. 04Create a Sales Invoice; the Payment Schedule table shows two rows of Rs 18,080 with their due dates.
5. 05Open Financial Reports > Accounts Receivable to see the rows aged by their own due dates.

Create under Accounts > Payment Terms Template and set it as default on Customer, Supplier or Company.

50% advance, 50% in 30 days: a Rs 36,160 invoice shows two due rows of Rs 18,080.