[IMP] accounting: update payment terms

task-3211595

closes odoo/documentation#5172

X-original-commit: 26c4c01889
Signed-off-by: Dallas Dean (dade) <dade@odoo.com>

content/applications/finance/accounting/customer_invoices.rst

@@ -188,6 +188,8 @@ you will see the follow-up message and all overdue invoices.
 
 .. image:: customer_invoices/invoice12.png
 
+.. _customer-invoices/aging-report:
+
 Customer aging report:
 ~~~~~~~~~~~~~~~~~~~~~~
 

content/applications/finance/accounting/customer_invoices/payment_terms.rst

@@ -2,120 +2,141 @@
 Payment terms and installment plans
 ===================================
 
-**Payment Terms** specify all the conditions under which a sale is paid, mostly to ensure customers
-pay their invoices correctly and on time.
+**Payment terms** specify all the conditions of a sale's payment to help ensure customers pay their
+invoices correctly and on time.
 
-Payment Terms can be applied to sales orders, customer invoices, supplier bills, and contacts. These
-conditions cover:
+Payment terms are generally defined on documents such as sales orders, customer invoices, and
+vendor bills. Payment terms cover:
 
-- The due date
-- Some discounts
-- Any other condition on the payment
-
-Defining Payment Terms automatically calculates the payments' due dates. This is particularly
-helpful for managing installment plans.
+- The due date(s)
+- Early payment discounts
+- Any other conditions on the payment
 
 An **installment plan** allows the customers to pay an invoice in parts, with the amounts and
 payment dates defined beforehand by the seller.
 
-**Examples of Payment Terms:**
-
-- | **Immediate Payment**
-  | The full payment is due on the day of the invoice's issuance.
-- | **15 Days** (or **Net 15**)
-  | The full payment is due 15 days after the invoice date.
-- | **21 MFI**
-  | The full payment is due by the 21st of the month following the invoice date.
-- | **2% 10, Net 30 EOM**
-  | 2% :doc:`cash discount <cash_discounts>` if the payment is received within ten days. Otherwise,
-    the full payment is due at the end of the month following the invoice date.
+.. example::
+   Immediate Payment
+     The full payment is due on the day of the invoice's issuance.
+   15 Days (or Net 15)
+     The full payment is due 15 days after the invoice date.
+   21 MFI
+     The full payment is due by the 21st of the month following the invoice date.
+   30% Advance End of Following Month
+     30% is due on the day of the invoice's issuance. The remaining balance is due at the end of the
+     following month.
+   2% 10, Net 30 EOM
+     A 2% :doc:`cash discount <cash_discounts>` if the payment is received within ten days.
+     Otherwise, the full payment is due at the end of the month following the invoice date.
 
 .. note::
-   Payment terms are not to be confused with down payment invoices. If, for a specific order, you
-   issue several invoices to your customer, that is neither a payment term nor an installment plan,
-   but an invoicing policy.
-
-.. note::
-   This document is about the *Payment Terms* feature, not *Terms & Conditions*.
+   - Payment terms are not to be confused with :doc:`down payment invoices
+     </applications/sales/sales/invoicing/down_payment>`. If, for a specific order, you issue
+     multiple invoices to your customer, that is neither a payment term nor an installment plan but
+     an invoicing policy.
+   - This page is about the *payment terms* feature, not :doc:`terms & conditions
+     <terms_conditions>`, which can be used to declare contractual obligations regarding content
+     use, return policies, and other policies surrounding the sale of goods and services.
 
 .. seealso::
+   - `Odoo Tutorials: payment terms <https://www.odoo.com/slides/slide/payment-terms-1679>`_
    - :doc:`cash_discounts`
-   - `Odoo Tutorials: Payment Terms <https://www.odoo.com/slides/slide/payment-terms-1679>`_
 
 Configuration
 =============
 
-Go to :menuselection:`Accounting --> Configuration --> Payment Terms` and click on *Create*.
+To create new payment terms, follow these steps:
 
-The **Description on the Invoice** is the text displayed on the document (sale order, invoice,
-etc.).
+#. Go to :menuselection:`Accounting --> Configuration --> Payment Terms` and click on
+   :guilabel:`New`.
+#. Enter a name in the :guilabel:`Payment Terms` field. This field is the name displayed in the
+   database and is not customer-facing.
+#. Enter the text to be displayed on the document (sales order, invoice, etc.) in the
+   :guilabel:`Description on the Invoice` field.
+#. Tick the :guilabel:`Display terms on invoice` checkbox to display a breakdown of each payment and
+   its due date on the invoice report, if desired.
+#. In the :guilabel:`Terms` section, add a set of rules (terms) to define what needs to be paid and
+   by which due date(s). Defining terms automatically calculates the payments' due date(s). This is
+   particularly helpful for managing **installment plans** (:dfn:`payment terms with multiple
+   terms`).
 
-In the **Terms** section, you can add a set of rules, called *terms*, to define what needs to be
-paid and by which due date.
-
-To add a term, click on *Add a line*, and define its *Type*, *Value*, and *Due Date Computation*.
-
-.. important::
-   - Terms are computed in the order they are set up.
-   - The **balance** should always be used for the last line.
-
-In the following example, 30% is due on the day of issuance, and the balance is due at the end of
-the following month.
-
-.. image:: payment_terms/configuration.png
-   :align: center
-   :alt: Example of Payment Terms. The last line is the balance due on the 31st of the following
-         month.
-
-Using Payment Terms
-===================
-
-Payment Terms can be defined in the **Due Date** field, with the **Terms** drop-down list, on:
-
-- | **Quotations**
-  | To set specific payment terms automatically on all invoices generated from a quotation.
-- | **Customer Invoices**
-  | To set specific payment terms on an invoice.
-- | **Vendor Bills**
-  | To set specific payment terms on a bill. This is mostly useful when you need to manage vendor
-    terms with several installments. Otherwise, setting the *Due Date* is enough.
+   To add a term, click on :guilabel:`Add a line`, define its :guilabel:`Due Type` and
+   :guilabel:`Value`, and fill out the appropriate fields to define when the term is due, including
+   any :doc:`discounts <cash_discounts>`. Due dates are calculated by taking the invoice/bill date,
+   first adding the :guilabel:`Months`, and then adding the :guilabel:`Days`. If the :guilabel:`End
+   of month` toggle is enabled, the due date will then be the end of that month, plus any
+   :guilabel:`Days after End of month`.
 
 .. tip::
-   You can also define a **Due Date** manually. If Payment Terms are already defined, empty the
-   field so you can select a date.
+   To instead specify a number of days *before the end of the month*, use a negative value in the
+   :guilabel:`Days after End of month` field.
 
-Payment Terms can be defined with the **Payment Terms** field on:
+To test that your payment terms are configured correctly, enter an invoice amount and invoice date
+in the :guilabel:`Example` section to generate the payments that would be due and their due dates
+using these payment terms.
 
-- | **Contacts**
-  | To set specific payment terms automatically on new sales orders, invoices, and bills of a
-    contact. This can be modified in the contact’s *Form View*, under the *Sales & Purchase* tab.
+.. important::
+   - Terms are computed in the order of their due dates.
+   - The **balance** should always be used for the last line.
 
-Journal Entries
+.. example::
+   In the following example, 30% is due on the day of issuance, and the balance is due at the end of
+   the following month.
+
+   .. image:: payment_terms/configuration.png
+      :alt: Example of Payment Terms. The last line is the balance due on the 31st of the following
+            month.
+
+Using payment terms
+===================
+
+Payment terms can be defined using the :guilabel:`Payment Terms` field on:
+
+- **Contacts:** To automatically set default payment terms on a contact's new sales orders,
+  invoices, and bills. This can be modified in the contact form, under the :guilabel:`Sales &
+  Purchase` tab.
+- **Quotations/Sales Orders:** To set specific payment terms automatically on all invoices generated
+  from a quotation or sales order.
+
+Payment terms can be defined using the :guilabel:`Due Date` field, with the :guilabel:`Terms`
+drop-down list on:
+
+- **Customer invoices:** To set specific payment terms on an invoice.
+- **Vendor bills:** To set specific payment terms on a bill.
+
+.. tip::
+   Setting payment terms on a vendor bill is mostly useful for managing vendor terms with multiple
+   installments or cash discounts. Otherwise, manually setting the **due date** is enough. If
+   payment terms are already defined, empty the field to select a date.
+
+Journal entries
 ===============
 
-Invoices with specific Payment Terms generate different *Journal Entries*, with one *Journal Item*
-for every computed *Due Date*.
+Invoices with specific payment terms generate different *journal entries*, with one *journal item*
+for every computed *due date*.
 
-This makes for easier *Follow-ups* and *Reconciliation* since Odoo takes each due date into account,
-rather than just the balance due date. It also helps to get an accurate *Aged Receivable report*.
+This makes for easier :doc:`follow-ups </applications/finance/accounting/payments/follow_up>` and
+:doc:`reconciliation </applications/finance/accounting/bank/reconciliation>` since Odoo takes each
+due date into account, rather than just the balance due date. It also helps to get an accurate
+:ref:`aged receivable report <customer-invoices/aging-report>`.
 
-.. image:: payment_terms/journal-entry.png
-   :align: center
-   :alt: The amount debited on the Account Receivable is split into two Journal Items with distinct
-         Due Dates
+.. example::
+   .. image:: payment_terms/journal-entry.png
+      :alt: The amount debited to the account receivable is split into two journal items with
+            distinct due dates
 
-In this example, an invoice of $1000 has been issued with the following payment terms: *30% is due
-on the day of issuance, and the balance is due at the end of the following month.*
+   In this example, an invoice of $1000 has been issued with the following payment terms: *30% is
+   due on the day of issuance, and the balance is due at the end of the following month.*
 
-+----------------------+-------------+---------+---------+
-| Account              | Due date    | Debit   | Credit  |
-+======================+=============+=========+=========+
-| Account Receivable   | February 21 | 300     |         |
-+----------------------+-------------+---------+---------+
-| Account Receivable   | March 31    | 700     |         |
-+----------------------+-------------+---------+---------+
-| Product Sales        |             |         | 1000    |
-+----------------------+-------------+---------+---------+
+   +----------------------+-------------+---------+---------+
+   | Account              | Due date    | Debit   | Credit  |
+   +======================+=============+=========+=========+
+   | Account Receivable   | February 21 | 300     |         |
+   +----------------------+-------------+---------+---------+
+   | Account Receivable   | March 31    | 700     |         |
+   +----------------------+-------------+---------+---------+
+   | Product Sales        |             |         | 1000    |
+   +----------------------+-------------+---------+---------+
 
-The $1000 debited on the Account Receivable is split into two distinct *Journal Items*. Both of
-them have their own **Due Date**.
+   The $1000 debited to the account receivable is split into two distinct journal items. Both of
+   them have their own due date.