How to Manage Payment Terms

Use this workflow to add, edit, deactivate, or reactivate payment terms.

When to use this workflow

Use this workflow when payment term options need to change for future transactions.

Do not deactivate a term just because old records use it. PAX keeps inactive terms on historical records and hides them from normal dropdowns.

Before you start

You need:

• admin or executive access.
• The term code, such as NET 30.
• A user-facing name, such as Net 30 days.
• The number of days until due.

Screen path

Dashboard > System Settings > Lookups & Master Data > Payment Terms

Add a payment term

1. Open System Settings.
2. In Lookups & Master Data, select Payment Terms.
3. Select + Add New Payment Term.
4. Enter Code.
5. Enter Name.
6. Enter Days Until Due.
7. Select Save.

Edit a payment term

1. Find the payment term row.
2. Select Edit.
3. Update Name or Days Until Due.
4. Select Save.

The code is the row identifier and is not edited from this screen.

Deactivate or reactivate a payment term

1. Find the payment term row.
2. Select Deactivate to hide an active term from normal dropdowns.
3. Select Reactivate to make an inactive term available again.

What happens behind the scenes

Adding a term creates an active payment term after validating code, name, days until due, and duplicate code.

Editing a term updates name or days until due. Activating or deactivating updates the term status.

Future workflows that look up active payment terms use the updated setup. Historical records that already reference a term keep their stored term reference and due dates.

Related docs

• Payment Terms Overview
• Create Order Overview
• How to Create Purchase Order
• How to Enter Vendor Invoice