How do I set up payment terms (net 30, net 60, etc.)?

You can set up Terms in a sales order in inFlow Cloud to automatically set a due date for payment (customer payment or payment to your vendor). For example, Net 30 is very common, and it means that the payment is due 30 days from the invoice date.

Windows

inFlow Cloud for Windows

In inFlow, we have already set up these default payment terms:

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If you want to add/modify payment terms:

  1. Go to Main Menu > Options > Settings > References.
  2. Click on Payment Terms.
  3. Add a payment terms name and set the number of days for inFlow to calculate a due date (from invoiced date). For example, “Net 45″would have a days due of 45 days.
  4. If you want to remove payment terms you don’t use, right-click on the row you don’t want and click Delete selected rows.

Note that inFlow cannot handle payment terms with specialized “Days due”. For example, “EOM” or “end of month” payment terms would require a formula that calculates the number of days from invoiced date to the end of that month. The “Days Due” column, as shown above, can only handle numbers, not formulas.

You can still create the payment terms if you want it to show up on the sales order, but make sure to set it as “0 days due” and you must manually set the Due Date on the invoice yourself.

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Adding payment terms to customer records

If you add a payment term to your customers records, sales orders will then auto-populate the Term field with the payment term you choose for your customer. To add a payment term to your customers go to:

  1. Main Menu > Sales > Customer List.
  2. Double click on a customer record profile from the list.
  3. On the Customer Info tab click the Payment Terms drop-down menu, then to select the option that your customer uses.

Web

inFlow Cloud for Web

In inFlow, we have already set up these default payment terms:

If you want to add/modify payment terms:

  1. Go to https://app.inflowinventory.com/options/company (If you’re already logged into inFlow, go to Main Menu > Options > Company settings.)
  2. Under the Payment Terms heading click on Manage payment terms.
  3. Click on +Add payment term or inFlow to calculate a due date (from invoiced date). For example, “Net 45″would have a days due of 45 days.
  4. If you want to remove payment terms you don’t use, click the “X” button next to the row you don’t want.
  5. Click Save when done.

Note that inFlow cannot handle payment terms with specialized “Days due”. For example, “EOM” or “end of month” payment terms would require a formula that calculates the number of days from invoiced date to the end of that month. The “Days Due” column, as shown above, can only handle numbers, not formulas.

You can still create the payment terms if you want it to show up on the sales order, but make sure to set it as “0 days due” and you must manually set the Due Date on the invoice yourself.

Adding payment terms to customer records

If you add a payment term to your customers records, sales orders will then auto-populate the Term field with the payment term you choose for your customer. To add a payment term to your customers go to:

  1. Main Menu > Sales > Customer List.
  2. Double click on a customer record profile from the list.
  3. On the Customer Info tab click the Payment Terms drop-down menu, then to select the option that your customer uses.

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