Payment Term
Posibolt lets you create different payments terms that you offer to your Business Partners when paying invoices and also those terms your Vendors offers you for payment.
Creating A Payment Term
Many businesses use the traditional payment term of 30 days from the end of the month in which an invoice is dated, as it is convenient for systems that operate on a monthly aging cycle. This behaviour can be emulated in Posibolt using a payment term with the following settings:
Fixed due date: yes
Fix month date: 30
Fix month cut-off: 31
Fix month offset: 1
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