As shown in the screen above a payment term which only has a deferred period such as "100% in 120 days", can be created by entering below data in the payment term header window:
- an "Offset Month Due" which is the length of the payment period agreed in months, by example "4" as four months.
- or an "Overdue Payment Days Rule" which is also the length of the payment period agreed but in days, by example "120" as one hundred and twenty days.
- Fixed Due Date flag allows you to enter a fixed maturity payment date such as 20th of each month, by example.
- Next Business Day flag allows you to set as payment date not exactly the corresponding due date but the the next business day, this helps avoiding due dates calculation over the weekend.
- Overdue Payment Day Rule allows you to enter a fixed payment day.
It is important to remark that in the case of defining a payment term split into more than one deferred period such as "50% in 30 days and 50% in 60 days", the second one (or the latest one in case of more than 2 deferred periods) must be setup in the header not in the lines as shown in the image below: