Payment Terms

Payment terms are the conditions surrounding the payment part of a Purchase or Sales, typically specified by the seller to the buyer. Payment terms provide clear details about the expected payment on a purchase or Sales and specify how much time the buyer has to make payment on the purchase.

In VIENNA Advantage, Payment Term allows user to define one or multiple payment schedules, discounts offered, and due dates based on either a specific day of a month, such as the 15th of the month, or a number of days added to your terms date, such as 14 days after the Invoice Date for a respective Payment Term.

Following is the pre-seeded default Payment Term in VIENNA Advantage:

• Immediate

How to Setup Payment Term

Use the Payment Term screen to define a new Payment Term in the system.

Or search for ‘Payment Term’ in the search utility available in the menu.

The following screen appears once the system opens the Payment Term screen:

The user clicks on the 'New Record' icon to create a new Payment Term in the system.