Managing your payment terms

Required option: Payment
Authorised profile: Brand manager

The Payment terms module lets you create payment plans for your buyers. These terms are used when the payment plan is generated on the buyer or brand side.
 

• Creating payment terms
• Assigning payment terms to a retailer
   

Creating payment terms

To create payment terms, follow the steps below:
 

1. Go to the settings wheel > Payment terms
    
2. Click Create a payment term
    
3. Choose the type from the drop-down menu. Leave Custom to create custom terms, or select standard terms to pre-fill the fields
    
4. Enter a name and a code
   
   The name is displayed to your buyers during payment, so we recommend using a clear and precise name. The code can then be used in a CSV file import to assign payment terms to several retailers in bulk
    
5. Enter the number of instalments, up to a maximum of 4
    
6. For each instalment, enter its share of the amount as a percentage and its due date in number of days. The due date can be Net, End of month or On delivery. The due date of the 2nd instalment is always calculated from the due date of the 1st instalment, and so on
    
7. Click Apply
    

Assigning payment terms to a retailer

Once your terms are created, you can assign them to your retailers, either manually by following the steps below, or in bulk using a Retailers CSV import file.
 

1. Go to the Customers > Retailers menu
    
2. Open the retailer's record by clicking its name
    
3. Click the Settings tab
    
4. Scroll down to the Payment section
    
5. Select payment terms for the Main terms line (pre-orders) and, if you wish, other terms for the In-stock orders line
    
6. From the Enable at checkout line, choose the scope of orders for which you want to allow your buyers to pay directly on your showroom after placing an order on their own
    
7. Restrict the payment methods for this retailer using the Allowed methods drop-down menu
    
8. Click Save to apply your changes
    

To update the terms of several retailers in bulk, follow the article Updating your customer data. Remember to tick the Main payment terms code and In-stock payment terms code columns in the export, then fill them in with the codes you created beforehand.