How do payment terms work?

What are payment terms in Printavo?

Payment terms in Printavo will allow you to better keep track of receivables with your customers. This functionality gives you the ability to store three additional fields on invoices:

  • Invoice Date 
  • Terms
  • Payment Due Date

In additional the ability to store default payment terms on customers.

Note: When in a quote status, Invoice Date and Payment Due Date do not show to customers, only when the order has moved to an invoice status.


How to create payment terms?

To create net terms:

  1. Click on My Account
  2. Head to Invoice Information
  3. Click New Payment Term

You will have the ability to create unlimited payment terms and archive ones that you don't want to be available for use.


How to save payment terms on customers?

Printavo allows you to save a default payment term on the customer. You can do this by:

  1. Viewing a customer 
  2. Scroll to "Default Payment Term"
  3. Select a term

This payment term will be used when creating new quotes with this customer.


How to use payment terms on invoices?

Once payment terms have been created, they can be used on invoices. You can do this by:

  1. Create/edit a quote or invoice
  2. Head to "Terms" on the right sidebar 
  3. Select a term

Once selecting a term, the Payment Due Date will adjust according to the days allowed for payment. 


How to use payment terms in analytics?

Payment terms affect how analytics and receivables are calculated to give you an accurate financial picture of your business. 

Invoices

When viewing all invoices, you will notice a section called "Current". This represents the total sales that have not passed their Payment Due Date on the Invoices page. It denotes how much work is being currently worked on in your shop.

Analytics

The following charts will now allow you to select between four dates to filter data by (Invoice Date, Payment Due Date, Created, Customer Due Date):

  • Sales Tax
  • Sales by Line Item Categories
  • Total Sales
  • Accounts Receivables

How do payment terms work with QuickBooks Sync?

In My Account > QuickBooks Sync > Settings tab you have two new date options for syncing to the Invoice Date field in QuickBooks Online:
  • Invoice Date
  • Payment Due Date
The Printavo invoice’s Payment Due Date will be synced to the Due date in QuickBooks Online by default.
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