Payment Terms

Overview

The Payment Terms screen allows you to set and customize payment terms for your invoices. Payment terms indicate when you expect to receive payment on an invoice from a client. It is used to display a message on the invoices regarding the date when the invoices are due. In case of tardy clients or late payments, the specified interest or late fee can be charged. These terms determine the accounts receivable and aging for the invoices.

You can create a list of often-used payment terms in the Payment Terms screen. For example, if you expect payment from a client within 30 days and you charge an interest rate of 5% on late payments, use the Net 30 term having 30 grace days. You can specify the payment terms at the global, client or project level. Click to watch this video on setting up payment terms in BQE CORE. 

Field Descriptions

How To

Add Payment Terms

Mark Screen as Favorite

Field Descriptions

Add Payment Terms

To create a new payment term , watch this video or follow these steps:

1. Open the Payment Terms screen from the side menu > Settings > Billing & Invoices.
   
   
   
   

2. Click Add.

3. Enter the required information in the top row of the grid. Check Field Descriptions above for details.
   

   • • Name

     • Days:  Number of days after which interest or late fee is charged on late payments.

    

4. Click Done.

Mark Screen as Favorite

You can mark or flag the most-often used and important screens in BQE CORE as your favorites up to a maximum of ten. These favorite screens then display separately on the side menu under the Favorites list. You can manage all your favorite screens in CORE from User Settings.

To mark this screen as your favorite, watch this video or follow these steps:

1. Open the Payment Terms screen from the side menu > Settings > Billing & Invoices.
   
   
   
   
2. Click on the top-right.
3. You can access this screen from the side menu under Favorites.