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How do I give a customer credit terms or instalments?

Make the term on Payment Term (percentage lines and a balance line, each with its days), then set it as the customer's Payment Term. Every new invoice takes it, works out the due date and builds the payment schedule.

Screen
Accounts Receivable › Payment › Payment Term; Customer In Legal Entity
Who
Finance controller
Takes effect
On the next invoice
Needs first
Nothing

Steps​

  1. Open Payment Term and press New. Code "N30", Name "Net 30 days".
  2. Add the lines. Net 30: percentage 100, Days 30. For 50% now and 50% in 60 days: percentage 50, Days 0; then balance, Days 60.
  3. Save.
  4. Open the customer on Customer In Legal Entity, Edit, set Payment Term, and save.

Check it worked​

  • A new Customer Invoice shows Due Date = Baseline Date + the first line's days, and its payment schedule shows one line per condition.

If something looks wrong​

  • The invoice is refused with "Payment Term ... is not defined correctly. Schedule is not calculated". The term has a fixed-amount line. Use percentages and a balance line.
  • Old invoices keep the old term. The term is copied when the invoice is made.