Creating invoices – terms and notes

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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!”

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2017-02-09 | ALL, Tutorials and how to's | No Comments

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