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A vendor or a customer may demand a deferred payment period of 30 days or may even demand to partially pay their debts or collects in two or more deferred periods.

Therefore "Payment Terms" will generate a list of scheduled payment/s against an invoice, each payment/s will have a due date and a due or expected amount to be paid.

In other words, each payment term line and/or header is a different scheduled payment against an invoice

The way it works is:

  1. Payment terms must be first properly created and configured as described in this section.
  2. Then payment terms must be linked to each business partner as described in the "Master Data Management // Business Partner" section.
  3. Finally every time an invoice is booked for that business partner the payment terms setup by default will be applied and therefore use for the creation of the corresponding Invoice "Payment In/Out Plan".
    A payment in/out plan lists as many scheduled payments against an invoice as due dates configured in the payment term associated to that invoice.

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