Solution Properties
Solution ID:
200427112344907
Last Modified Date:
Thu Dec 14 06:53:47 UTC 2023
Taxonomy Path:
Case category//How do I...//setting up
Author:
[email protected]
Set payment terms and due dates
Description

When you enter customer and supplier invoices, a due date is calculated based on the customer's or supplier's payment terms.

It's easy to set the payment terms to suit your business needs. 

Cause
Resolution

Default payment terms on new records

You can set up default payment terms which are applied to new customer and supplier records you create.

  1. On the menu bar, click Settings then click Configuration.
  2. In the Configuration Editor, click Terms.
  3. Complete the Customer Trading Terms as required.

    The payment due date is based on the number of days you enter together with the method you select as follows:
    Payment Due FromHow the due date is calculated
    Days after the invoiceInvoice date + value entered in Payment Due

    Sage 50 Accounts v28.1 and above - If the Payment Due box is set to zero, you can choose whether invoices become overdue after 0 days or 30 days. Read more >

    Sage 50 Accounts v28.0 and below - If you leave the Payment Due box as zero, the default setting of 30 days is used to calculate the due date.
    Days from the first day of the following monthFirst day of the month after the invoice + value entered in Payment Due. If the invoice is due on the first day of the following month, enter zero here.
    Days before the last day of the following monthLast day of the month after the invoice - value entered in Payment Due. If the invoice is due on the last day of the following month, enter zero here.
    Day of the monthThe day of the month based on the value entered in Payment Due. If the invoice is dated after that date, then Sage Accounts uses the same day in the following month.
    Days from 1 month after the invoice dateA month from the date of the invoice + value entered in Payment Due
  4. Complete the Supplier Trading Terms using the same principles.
  5. Click Apply, then click Close.

Edit payment terms on customer and supplier records

You can change the payment terms on existing customer and supplier records at any time.

  1. Click Customers or Suppliers as required, then double-click the record you want to edit.
  2. Click Credit Control.
  3. Edit the terms as required. The Payment Due From options are described in the previous section.
  4. Click Save and then click Close.

TIP: When you enter transactions you can also overtype the suggested due date as required, as long as the date you use is after the invoice date.

[BCB:184:Emma Footer CB:ECB] [BCB:119:Limitless - 50 Accounts - Customers:ECB]
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