Payment Terms - Odoo 17 Enterprise Book

Payment Terms

Each corporate organization has unique techniques and tactics for making and collecting payments. You can create alternative payment terms and use them when making customer bills and vendor bills, depending on your company's regulations. The terms of payment will specify the circumstances in which a payment is made. You can obtain the due dates automatically by using payment conditions on sales orders, customer invoices, vendor bills, and contracts. Installment payments might notably benefit from this feature.

The Payment Terms option is located in the Invoicing tab of the Configuration menu of the Accounting module.

Odoo 17 Accounting

You will find a list of already configured payment conditions here, along with information about their name and company, as seen in the screenshot below.

Odoo 17 Accounting

By selecting the New button, it is simple to configure new payment conditions.

Odoo 17 Accounting

You can enter the names of the Payment Terms and Company in the corresponding fields. By including a brief statement in the area labeled "Description on the Invoice," you may explain the payment terms to customers. By turning on the Display Terms on Invoice feature, the invoices will include information about the due dates for payments and the associated amounts. Using the Add a Line button under the Terms page, you can specify the payment terms. In the Due Type field, choose the type of value that corresponds to this payment terms line. It could be a Fixed Amount, Percent, or Balance. To guarantee that the entire amount will be allocated, the computation type on the final line should be "Balance". In the Value field, enter the corresponding value for the due type. You can change to the end of the month after adding months or days to the End of Month field, if necessary, after noting Months and Days to determine the payment due date.

By turning on this feature, you can specify how many days to add after the month's conclusion in the Days after the conclusion of the Month field. You can enter the early payment discount offered for this line in the Discount area. Indicate the number of days left before the early payment proposition expires in the Discount Days field.

After setting up the payment terms, you can use them to create records of vendors or customers in the Sales & Purchase tab of the contact form. This will ensure that whenever you choose a vendor or customer, the corresponding payment term will automatically appear on the corresponding purchase order or sales order.



Cybrosys Technologies Pvt. Ltd.
Neospace, Kinfra Techno Park
Kakkancherry, Calicut
Kerala, India - 673635



Cybrosys Technologies Pvt. Ltd.
1st Floor, Thapasya Building,
Infopark, Kakkanad,
Kochi, India - 682030.



Cybrosys Techno Solutions
The Estate, 8th Floor,
Dickenson Road,
Bangalore, India - 560042

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