Payment terms are the terms required for payment on an item. These terms extend how a vendor wants to treat a customer.
There are common examples:
- net 30
- pay in 30 days
- credit card
- cash on delivery
Pre-payment is a payment you make to the supplier before shipping goods or providing any services. Only with pre-paid money will the supplier do this and send an invoice for the goods.
Post-payment is payment after which you receive the goods, and the supplier gets the payment if everything is okay with the goods.
You can add as many payment terms as you wish on this page by hitting on Add button