Term is a fixed or limited period for the amount of time given to the customer to receive payment and to the vendor to make payment. By default mybooks will have a pre-added list of terms as below,
Navigation
- Click on settings then business settings
- Click on preferences and then payment terms
On this page, Payment terms can be added, edited, and delete. To configure payment terms click on settings which are located at the top right-hand corner then preferences and then payment terms.
To add a term click on Create New Term then enter the term name and term days. Click on save to update the changes or click on cancel to click on cancel the delete the changes. Default terms can be edited and deleted by clicking on the edit and delete icon locate below option.
Create a New Payment
- Click on create payment term located at the top right-hand corner
- Enter the term name
- Update the term days
- Click on save to save the term