97 lines
3.5 KiB
ReStructuredText
97 lines
3.5 KiB
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==================================
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How to setup and use payment terms
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==================================
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Payment terms define the conditions to pay an invoice. They apply on
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both customer invoices and supplier bills.
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Example, for a specific invoice:
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- Pay 50% within 10 days
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- Pay the remaining balance within 30 days
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.. note:: Payment terms are different from invoicing in several times. If,
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for a specific order, you invoice the customer in two parts, that's not
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a payment term but invoice conditions.
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Configuration
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=============
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Configure your usual payment terms from the Configuration menu of the
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Account application. The description of the payment term is the one that
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appear on the invoice or the sale order.
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A payment term may have one line (ex: 21 days) or several lines (10%
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within 3 days and the balance within 21 days). If you create a payment
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term with several lines, be sure the latest one is the balance. (avoid
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doing 50% in 10 days and 50% in 21 days because, with the rounding, it
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may not do exactly 100%)
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.. todo:: screenshot payment term forms, after QDP have commited the change
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planned on this object
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Using Payment Terms
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===================
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Payment terms for customers
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---------------------------
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Payment terms can be set on:
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- **a customer**: to apply this payment term automatically on new
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sale orders or invoices for this customer. Set payment terms on
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customers if you grant this payment term for all future orders of
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this customer.
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- **a quotation**: to apply this payment term on all invoices
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created from this quotation or sale order, but not on other
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quotations
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- **an invoice**: to apply the payment term on this invoice only
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If an invoice has a payment term, the journal entry related to the
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invoice is different. Without payment term or tax, an invoice of $100
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will produce this journal entry:
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+----------------------+------------+---------+----------+
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| Account | Due date | Debit | Credit |
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+======================+============+=========+==========+
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| Account Receivable | | 100 | |
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+----------------------+------------+---------+----------+
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| Income | | | 100 |
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+----------------------+------------+---------+----------+
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If you do an invoice the 1st of January with a payment term of 10%
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within 3 days and the balance within 30 days, you get the following
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journal entry:
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+----------------------+------------+---------+----------+
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| Account | Due date | Debit | Credit |
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+======================+============+=========+==========+
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| Account Receivable | Jan 03 | 10 | |
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+----------------------+------------+---------+----------+
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| Account Receivable | Jan 30 | 90 | |
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+----------------------+------------+---------+----------+
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| Income | | | 100 |
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+----------------------+------------+---------+----------+
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In the customer statement, you will see two lines with different due
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dates.
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Payment terms for vendor bills
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------------------------------
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The easiest way to manage payment terms for vendor bills is to record a
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due date on the bill. You don't need to assign a payment term, just the
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due date is enough.
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But if you need to manage vendor terms with several installments, you
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can still use payment terms, exactly like in customer invoices. If you
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set a payment term on the vendor bill, you don't need to set a due date.
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The exact due date for all installments will be automatically created.
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.. seealso::
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:doc:`cash_discounts`
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