Payment Terms is where payment term codes, names, due-date timing, and active status are maintained.
What this screen is for
Use Payment Terms to add new payment term codes, update names, update days until due, or deactivate/reactivate terms.
Payment terms are used in customer, quote, sales order, invoice, purchase order, vendor invoice, and payment workflows. Treat changes carefully because payment term setup affects future due-date behavior and dropdown availability.
Only admin and executive users see this setting in System Settings.
Screen path
Dashboard > System Settings > Lookups & Master Data > Payment Terms
Key areas
| Area | What it shows |
|---|---|
| Description text | Explains that inactive terms are hidden from dropdowns but remain on historical records. |
+ Add New Payment Term |
Opens the new term form. |
| Payment terms table | Shows Code, Name, Days Until Due, Status, and Actions. |
Main actions
+ Add New Payment Term: Adds a new active payment term.Edit: Edits the name and days until due.Deactivate: Hides an active term from normal dropdowns.Reactivate: Makes an inactive term available again.Save: Saves a new term or edited values.Cancel: Leaves the add or edit form without saving.
There is no delete action on this screen.
What happens behind the scenes
The management screen loads both active and inactive payment terms.
Normal dropdowns use only active terms. Deactivated terms remain available to historical records that already reference them.
Days Until Due must be a non-negative integer. Sales order invoice reservation uses the selected term's days to calculate invoice due dates. Purchasing and AP screens also use the selected payment term code where payment terms are captured.
Troubleshooting
Days until due must be a non-negative integer
Likely cause: The value is blank, negative, or not a whole number.
Safe fix: Enter 0 or a positive whole number.
Contact support if: A valid whole number is still rejected.
A payment term is missing from a dropdown
Likely cause: The term is inactive.
Safe fix: Reopen Payment Terms and select Reactivate if the term should be available again.
Contact support if: The term is active but still missing from a workflow.
A payment term code already exists
Likely cause: Another term uses the same code.
Safe fix: Edit the existing term or create a different code.
Contact support if: The duplicate term is not visible even with inactive terms shown.