Specify Default Payment Terms for an Organisation or Company

These payment terms, invoice instalments and payment conditions are only used when invoicing (service, freight or finance) costs, or finance or repurchase contracts. Enter these details in a similar way as for a sales or purchase contract.

Security Note: For an organisation, you need the Allow organisation maintenance security right in the Organisations domain security rights group for this activity. For a company, you need the Allow company maintenance security right in the Organisations domain security rights group for this activity.

Activity Steps

1. Open the Organisation or Company.
2. Select the Default Payment Terms tab.
3. Select the Service, Freight or Repurchase tab as required.

   Note: Invoices for finance contracts and costs use the payment terms on the Service tab. The Repurchase tab only displays for organisations and companies with the Organisation Role of Banks.

4. Enter payment terms. See Enter a Set of Payment Terms for a Set of Contract Terms.

   For Reference Document, only Standard Document is applicable when entering default payment terms for an organisation or company.

   The Installment Basis is not applicable when entering default payment terms for an organisation or company.

   Only the Final invoice iteration type is applicable to payment terms for repurchase contracts.

5. Specify invoice instalments. See Specify Instalments for a Set of Payment Terms.
6. Enter payment conditions if required. See Enter Payment Conditions for a Set of Payment Terms.
7. Click Save.