Payment Terms
Payment Terms are the reusable "when is this due" rules you set once and reuse everywhere — for example, "Net 30" means payment is due 30 days after the document date. Attach a term to a customer, supplier, or document, and Bizconnekt works out the due date for you, so nobody has to count days by hand.
Availability depends on your plan and your role.
What are Payment Terms?
A payment term is a name paired with a number of days:
- The name is the label you and your team recognise, such as Net 30 or Advance.
- The days are the credit period — how long after the document date payment is due.
So "Net 30" is simply the label "Net 30" attached to 30 days. When you put that term on an invoice dated the 1st, the due date becomes the 31st, automatically. "Advance" uses zero days, meaning payment is expected up front.
Who sets this up?
An administrator sets up the terms your business uses during setup, and chooses sensible defaults for sales and purchase documents. After that, your team just picks a term from a list — they never re-enter the days.
How to open Payment Terms
- Open Bizconnekt Admin from the main menu.
- Go to Settings.
- Select Accounting.
- Choose Payment Terms.
What terms come ready to use?
Bizconnekt provides a common set so you can start straight away:
| Term | Payment due |
|---|---|
| Advance | Up front (0 days) |
| Net 15 | Within 15 days |
| Net 30 | Within 30 days |
| Net 45 | Within 45 days |
| Net 60 | Within 60 days |
| Net 90 | Within 90 days |
You can use these as they are, edit them, or add your own.
How do I add a payment term?
- Open Payment Terms.
- Choose Add (the plus option below the list).
- Enter:
- Name — what to call the term (for example, Net 7 or End of Month).
- Days — the credit period in days.
- Save. The term is now available to pick anywhere payment terms are used.
How do I edit or remove a term?
- Find the term in the list.
- Choose edit to change its name or days, or delete to remove it.
- Save or confirm.
A term that is currently attached to active customers or suppliers cannot be deleted, so an in-use term is never removed out from under a document.
How do I set the default terms?
You can choose the term that fills in automatically on new documents:
- On the Payment Terms screen, find the default options for purchase and sales documents.
- Pick the term you want as the default for each.
- Save.
New purchase orders and sales documents then start with that term already selected. Your team can still change it on any individual document, and documents already created keep the terms they were saved with.
What does this change downstream?
Payment Terms feed straight into your day-to-day paperwork:
- On an invoice, the term sets the due date, which drives your receivables and reminders.
- On a customer or supplier, the assigned term becomes the starting point on their documents.
- Purchase orders and bills use their terms to calculate when you owe suppliers.
Set your terms once and your due dates take care of themselves.
Related guides
Need help? Contact support at support@bizconnekt.com