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Set Terms on Invoices

Q: How do I get the due-date in the A/R with terms 160 days? This is a monthly recurring issue and it takes us a significant amount of time to put them in manually one by one. There MUST be a better way to do this. After all, Finance Charges depend on this.

A: Terms are the shorthand way of expressing when you expect to receive payment from a customer, or when a vendor expects to receive payment from you. Terms show the number of days (or date) by which payment is due.

To add payment terms for 160 days, open the Lists menu and select Customer & Vendor Profile Lists. Click Terms List. Press Ctrl + N.

Enter the appropriate title and enter 160 days. From now on, select the terms when creating new invoices.

Gita Faust

About the Author

Gita Faust has over 30 years of accounting experience in the real estate and property management industry, Gita Faust is more than just a real estate investor; she is also popular for her work as an accountant, consultant, mentor, speaker, QuickBooks Top ProAdvisor, QuickBooks Solution Provider, member of Intuit’s Trainer/Writer Network, and, of course, author. Gita is well-known for her exemplary leadership and advisory skills. In fact, she even helped pioneer the adaptation of QuickBooks to suit the needs of professionals in real estate and property management. To share her knowledge she has written a series of courses titled Simplified Accounting Solution, which provides step-by-step guidance for those working with QuickBooks.

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