We need to configure the setup of the payment term and criteria properly so the due date shows the right information, Bernadette3. I'll guide you through the process in QuickBooks Desktop (QBDT).
Here's how:
- Navigate to the Lists menu at the top bar to choose Customer & Vendor Profile Lists and Terms List.
- From the list, look for the payment term in question and right-click your mouse beside it to select Edit Terms.
- On the Terms screen, review the payment term setup:
*Standard - If you want to have a payment due within a specific number of days from the invoice date.
*Date Driven - If you want to enter the day of the month that a payment is required within the due date.
- Click the OK button to apply the changes.
Now that the term settings have been configured, open each invoice and navigate to the Terms section. Next, toggle the payment term to the right one for the changes to take effect. To gain more insights about the process, refer to this article: Set up payment terms.
If you're interested in adding a discount to an early payment and need more information about applying credits to sales entries, we recommend visiting the following link: Recording invoice payment.
Explore the links provided to dig deeper into the different ways to track sales entries and generate customer statements:
Keep me posted if you have other sales-related concerns or questions about managing your customer's payment terms. I'll be delighted to provide the assistance you need.
