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Payment Terms in Odoo

Payment Terms in Odoo

Anjali AjithAug. 4, 2020

Odoo Payment Terms

Odoo Payment Terms is the conditions under which a vendor completes a sale. The payment terms cover when payment is expect,Any conditions on that payment and any discounts the buyer will receive.

In Odoo ,Payment terms are different from invoicing in several areas. If, for a specific order, you invoice the customer in two parts, that’s not a payment term but invoice conditions.

How To Create Payment Terms ?

Odoo Payment Terms can be created through the following steps :

Invoicing -->Configuration -->Management --> Payment Terms--> Create.

Create a Payment term in the following wizard.Click on the Add an Item to add a term.You can select between percent,fixed or balance from the due type.Here i have selected Percent .

As Payment Terms 20 % of the amount at the time of Invoice , so  set the number of days after as “0” .  and also the balance amount  after 2 days.You can change as per the requirement.

Payments terms in Odoo

After creating a payment term hit save to use it.Now the payment term that we have just created will be visible while selecting the payment term during billing .

Payment terms for customers

Payment terms can be set on a customer: to apply this payment term automatically on new sale orders or invoices for this customer. Set payment terms on customers if you grant this payment term for all future orders of this customer.

Go to Sales -->Customers -->Create.

set the payment term for this invoicing tab as shown below.

Payment terms in Odoo

As we enter the company name for that we customized the payment term, the payment term will appear automatically.

Payement Terms in Odoo

a quotation: to apply this payment term on all invoices create from this quotation or sale order, but not on other quotations

Payment Terms in Odoo

Payment Terms in Odoo means a agreement which is kept when the purchase or sales of a product. This is different from Invoices.Certain amount will be pay in the time of purchase or sales and the remaining amount can be given on the time which is mention in the Payment Term.As there is no issues the payment could be get.The payment terms are to manage the large amount of money can be given in a period  which is states in the terms.As the Best Odoo ERP Service Provider and Implementation Partner we made a simple solution with Odoo in terms of Payment issues. Sometimes the payments cannot be avail due to may reasons so the payment terms could meet the entire requirement .