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Payment Terms Setup

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Posted on by CU24060657-0 8
Hi All,
we have a requirement in Business Central where we need to setup payment terms like - 25% down/25% to ship/Bal Net30, 33% down, 33% on del, Net 30, 50% down/Bal before Delivery.
 
How can this be done in business Central.
Thank you all for any advice.
 
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Reports and Business Intelligence
  • Suggested answer
    Valentin Castravet Profile Picture
    Valentin Castravet 6,344 Super User on at
    Payment Terms Setup
    Ben is correct. You can setup multiple payment terms based on your criteria, on the document itself you would use prepayments for the % that is requried to be down, and then select one of the payment terms set up. 
     
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    Jun Wang Profile Picture
    Jun Wang 5,355 Super User on at
    Payment Terms Setup
    doesn't seem to be met out of box based on the requirements. the out of box payment terms only calculate discount and balance based on invoice posting date
  • Suggested answer
    Ben Baxter Profile Picture
    Ben Baxter 4,198 Super User on at
    Payment Terms Setup
    This is a combination of Prepayments and Payment Terms Code.  You can define the standard Payment Terms Code on the Customer, but you also have the option of changing it on the specific Sales Document as well.
     
    You would start your order, apply a prepayment % and create the Prepayment invoice.  The prepayment invoice will have a Payment Terms Code on when it will be due based on when it is posted.
     
    The final invoicing of the order will deduct the prepayment from the total amount so you are only billing the remaining amount, which will also have a Payment Terms Code applied.
     
    Final note, Sales Documents can only have a single prepayment posted against them.  This means you can't do 30%/30%/30%/10% invoicing, as an example, using prepayments.  For this you either use multiple G/L lines and a reversal G/L line on the order OR utilize the Jobs/Project module to build your milestones.
     
    This can all be handled with out of the box functionality, but it would be a good idea to discuss the need with your BC Partner so they can help you configure the system.
     
    P.S. If you found this information helpful, please mark it as a Verified Answer to help other forum users find the solution.
     
    Best Regards,
    Ben Baxter
    Accent Software Inc
  • Suggested answer
    Saurav.Dhyani Profile Picture
    Saurav.Dhyani 13,235 User Group Leader on at
    Payment Terms Setup
    Hi,
     
    can you explain what dates will be generated based on setup that you want?
     
    If 01/01/2024 is the order posting date what is expected due date for these new payment terms.
     
    Regards,
    Saurav Dhyani

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