by Laura Madeira | August 30, 2013 9:00 am
QuickBooks terms offer a shortened description, and calculate on an invoice, when you expect to receive payment from a customer, or when a vendor expects to receive payment from you. For example, 1% 10 Net 30 is an expression for payment due in 30 days, 1% discount, if paid within 10 days.
To practice creating a payment term, open a sample data file. You might also use these instructions if you are creating a new payment term in your own data file:
Terms lists calculate due dates on customer and vendor transactions.
Complete all the fields when creating a new payment term.
If you want the due date to be a specific date, use the Date Driven terms and complete the necessary fields.
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