Terms and Credit (Customer Defaults)

How Do I...

To set up default (standard) payment terms for your customers and default sales and discount G/L accounts, select the Terms and Credit tab on the Customer Defaults window.

Standard Terms

If the Use Standard Terms check box is selected for a customer record in the Maintain Customers/Prospects window, that customer uses the default set of payment terms on this window. Below are the fields that define standard terms:

G/L Link Accounts

These defaults are used to link sales income and sales discount G/L accounts to most of your customers. You can change the accounts for an individual customer, if necessary. These accounts are the categories or "buckets" that will be updated whenever you sell your customers any goods or services, including any discounts they receive when they pay their invoices early. Monies that enter these buckets will appear on your Income Statement.

Note: To display a list of existing accounts, select the Lookup button. To add a new account, double-click the field, which displays the Maintain Chart of Accounts window.

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