Terms

Invoice terms are your request until when you would like your invoice to be paid.

As we’ve discussed in the previous post there is a different type of agreements related to the payment:

 

Net monthly account	Payment due on last day of the month following the one in which the invoice is dated
PIA	Payment in advance
Net 7	Payment seven days after invoice date
Net 10	Payment ten days after invoice date
Net 30	Payment 30 days after invoice date
Net 60	Payment 60 days after invoice date
Net 90	Payment 90 days after invoice date
EOM	End of month
21 MFI	21st of the month following invoice date
1% 10 Net 30	1% discount if payment received within ten days otherwise payment 30 days after invoice date
COD	Cash on delivery
Cash account	Account conducted on a cash basis, no credit
Letter of credit	A documentary credit confirmed by a bank, often used for export
Bill of exchange	A promise to pay at a later date, usually supported by a bank
CND	Cash next delivery
CBS	Cash before shipment
CIA	Cash in advance
CWO	Cash with order
1MD	Monthly credit payment of a full month’s supply
2MD	As above plus an extra calendar month
Contra	Payment from the customer offset against the value of supplies purchased from the customer
Stage payment	Payment of agreed amounts at stage

 

Example: “Net 15 – Payment fifteen days after invoice date.”

Notes

Invoice notes let you add additional contextual notes to the invoices. They are used to add additional clarification or simply to add a thank you message to the client.

Example: “Thank you for your business. It is our pleasure to work with you. Look forward to working with you again soon!”

freelance, invoice, tips