{"id":2088,"date":"2023-08-12T19:33:39","date_gmt":"2023-08-12T19:33:39","guid":{"rendered":"https:\/\/nsaq.io\/docs\/%d8%b4%d8%b1%d9%88%d8%b7-%d8%a7%d9%84%d8%af%d9%81%d8%b9\/"},"modified":"2023-10-17T16:39:48","modified_gmt":"2023-10-17T16:39:48","slug":"payment-terms","status":"publish","type":"post","link":"https:\/\/nsaq.io\/en\/docs\/payment-terms\/","title":{"rendered":"Payment Terms"},"content":{"rendered":"[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]\n
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“On this page, you will find a detailed and comprehensive overview of the Payment Terms page, how to access it, and an explanation of how to control these terms.<\/span><\/p>\n

To access the ‘Payment Terms’ page, please follow the instructions below:<\/strong><\/span><\/h3>\n
    \n
  • Start by clicking on the ‘Settings’ menu in the main menu.<\/span><\/li>\n
  • Then, click on ‘Resource Management’ available in the top bar of the page.<\/span><\/li>\n
  • You will be directed to the ‘Payment Terms’ page, which displays all the payment terms saved in the system.<\/span><\/li>\n<\/ul>\n

     <\/p>\n

    Concept and Benefits of the ‘Payment Terms’ Page:<\/strong><\/span><\/h3>\n

    Payment terms represent a set of rules and regulations that govern how financial transactions are executed between the company and the second party during buying and selling operations. These terms are specific to several fundamental aspects, such as payment timing, method of financial transfer, and any additional terms relevant to the financial transaction. Payment terms vary from one transaction to another, depending on the type of deal and the agreement between the parties involved.<\/span><\/p>\n

      \n
    • Payment Timing:<\/strong> Payment terms determine when the financial amount should be paid. This can be upon completing the transaction (cash payment), on a specified future date (credit payment), or in regular installments over a defined period.<\/span><\/li>\n
    • Allocation of a specific number of days for payment terms:<\/strong> A specific time frame related to payment terms can be defined, allowing for the addition of specific time constraints on financial transfers.<\/span><\/li>\n
    • Ability to modify or delete existing payment terms in the system:<\/strong> The system allows for the modification or deletion of existing financial terms, enabling the company to customize them according to its specific needs and market changes.<\/span><\/li>\n
    • Linking payment terms to customers and suppliers:<\/strong> Payment terms can be linked to customer and supplier records in the system, enabling the company to track and manage payment terms sustainably. Additionally, payment terms for a specific customer or supplier can be modified when creating a document related to them.<\/span><\/li>\n
    • Display of payment terms and their information on the page:<\/strong> The page displays all available payment terms in the system, accompanied by a set of unique information for each payment term. This information includes a detailed description of the terms, the type of payment offered, and other relevant details.<\/span><\/li>\n<\/ul>\n

      In this way, it becomes easy for the company to organize and monitor payment processes efficiently, contributing to financial organization and efficiency in business operations.<\/span><\/p>\n

       <\/p>\n

      Explanation of how to add a ‘New Payment Term’:<\/strong><\/span><\/h3>\n
        \n
      • General Description of the Term:<\/strong> Start by providing a general description of the term. For example, this term could be related to terms and conditions for future payments from customers. The description must be clear and understandable to ensure clear comprehension by users.<\/span><\/li>\n
      • Type of Payment:<\/strong> You must specify the type of payment to be added. This relates to whether it’s a cash payment, splitting the amount into installments, or payment on a specific date after a certain number of days from the due date.<\/span><\/li>\n
      • Days or Day of the Following Month:<\/strong> This part involves determining the final payment date. Should customers make the payment on a specific date of the following month, or should the payment be made within a certain number of days after invoice issuance? This part must be precisely defined to prevent delays in payment or misunderstandings.<\/span><\/li>\n<\/ul>\n

        In summary, these steps ensure the clarification of the new payment term, setting the timeframe, and specifying the type of payment required. Clear communication with customers about these terms is essential to avoid disputes in the future and ensure smooth cash flow.”<\/strong><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n[\/vc_column_text][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"

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