Payment Terms

Payment Terms regroup all the conditions under which a sale is completed and paid. They can be applied to sales orders, customer invoices, and supplier bills, mostly to ensure that they will be correctly paid, and on time. These conditions cover:

  1. The due date

  2. Some discounts

  3. Any other condition on the payment

Defining Payment Terms automates the computation of payments due dates, both for invoices and bills.

Examples of Payment Terms:

  • Immediate Payment

The full payment is due on the day of the invoice’s issuance.

  • 15 Days (or Net 15)

The full payment is due 15 days after the invoice date.

  • 30 Days (or Net 30)

The full payment is due 30 days after the invoice date.

Credit Limit

Credit Limit Facilitates putting spending limit for the customers in Axanta ERP. The admin can set a credit limit for any customer in the system.

Axanta CMS - a big picture

In the below video, you will learn how to setup customer payment term and credit limit.