How do I add terms?

Create a new term.

A term defines the terms and conditions for payment, including payment due dates, discounts, and payment period.

Adding a term

1. Open Connect Accounts Receivable > Organization > Terms.

2. Click New (CTRL+N).

The form clears.

3. Enter the Description.

A description is a word or phrase that describes the character or features of the record.

Do you want to use the default description?

Yes, I want to use the default description. Continue to the next field.
No, I want to use a different description. Click on the Description field, and then type in a new description (up to 40 characters).

4. Enter the Discount Percent.

The discount percent is the percent of the total that may be deducted if the amount due is paid by a specified date. Set up the discount percent and discount date to permit a discount.

Does this term have a discount?

Yes, this term has a discount. Use the Discount Percent field to enter percent that will be discounted if the payment is made in the required time.
No, this term does not have a discount. Enter 0 (zero) in the Discount Percent field.

5. Enter the Discount Date is Based On.

Use Discount Date is Based On to define the discount period.

What is the discount period?

Use the Discount Date is Based On field to set up the discount period.

6. Enter the Payment Due Date is Based On.

Use Payment Due Date is Based On to define the date the payment is due.

How is the payment due date calculated?

Use the Payment Due Date is Based On field to set up the payment due date.

7. Click Save (CTRL+S).

The record is saved.