Here you can set default Credit Terms for your customers. This is useful if your credit terms are the same for most of your customers. You can still set different credit terms for individual customers where required, or change the due date on individual invoices and credit notes.
Once set here, we use this as the default on all new customer records. When you enter a sales invoice and select a customer, we calculate the due date based on the credit terms and print this on your invoices.
If you change this, we don't update the Credit Terms for existing customers. You must manually change any relevant customer records.
Choose one of 3 ways to calculate the due date
- Number of days after invoice date - Enter the required number of days - We add that number of days to the invoice date to work out the due date. For example, for 30 days, an invoice with a date on 1 May has a due date of 31 May
- End of next month (net monthly) - We automatically set the due date to the last day of the following month. So all invoices with invoice dates in June have a due date of 31 July
- Immediately - We automatically set the due date to the same date as the invoice date. An invoice with an invoice date of 2 June has a due date of 2 June
Choose how to age your sales transactions
We use ageing periods to group your transactions together to show you the total amount you are due to be paid in for each period. This helps with your credit control as you can easily see which debts are the oldest.
We use ageing periods on your Aged Debt report and show the age of transactions at the bottom of your customer statements.
We set default ageing periods of 30, 60. 90 and 120 days as this is common for most businesses.
Set different ageing periods here
Ageing period (in days) -
Enter the number of days you require for each ageing period - The total of unpaid transactions shown in each period based on their invoice date
For example, if today's date is 10 July, invoices dated between 11 June and 10 July show in the < 30 days column, invoices dated 11 May to 10 June show in the < 60 days column.
- Ageing periods by month - The total of unpaid transaction shown in each column based on the month. The first column is the current month. Subsequent columns show outstanding transactions for the previous months
For example, if today's date is 10 July, invoices dated anytime in July show in the Current column, and invoices dated anytime in June show in the 1 Month column.
Choose default ledger accounts
Chose the ledger accounts to use by default on the sales transactions.
We use this as default ledger account on all new customer records - When you enter a sales invoice and select a customer, we prefill with the ledger account saved on the customer record. You can still change this when entering transactions and when creating new records
If you change this, we don't update the ledger account for existing customers. You must manually change any relevant records:
- Sales discount ledger account - We use this ledger account when you add a discount to sales invoice or credit note
- Carriage ledger account - We use this ledger account when you add carriage to a sales invoice or credit note