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Payment terms

A vendor's Terms are the default for when the supplier has to pay that vendor. Every new purchase order to the vendor starts with them.

Who uses it​

Supplier staff. Anyone with Vendors access sees the terms; full access changes them.

How it works​

Choose Terms when adding the vendor, or change it later on the vendor page. The options are COD, Net 7 Days, Net 15 Days, Net 30 Days, Net 45 Days, Net 60 Days and Net 90 Days. A vendor always has a term: if none was ever set, it reads COD, and it can't be cleared.

When a new purchase order is created for the vendor:

  1. A term chosen on the purchase order wins.
  2. Otherwise the vendor's term is used.
  3. With no vendor term, or no link, the order is COD.

The New Purchase Order dialog fills the term in as soon as the vendor is picked, and it can be changed there.

Changing a vendor's term does not change purchase orders already created.

Where it shows up​

Vendor page, New Vendor Form, New Purchase Order dialog and the resulting purchase order and its invoice.

Permissions​

Full access to Vendors to change the term. Read access sees it as text.

Decisions​

  • The vendor term is a default. Purchase orders can differ, so a one-off agreement doesn't need the vendor changed.

FAQ​

I changed the vendor's terms. Why does an old order still say Net 30? Terms are copied when an order is created. Change the order itself if it needs to move.