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, tips2017-02-09 | ALL, Tutorials and how to's | No Comments