Payment Terms

Payment term refers to the amount of time extended to pay a wholesaler. Sometime discount are applied if payment is completed by a set time frame.
You can record a payment term on a purchase order that has been agreed upon between you and your vendor. 
They can also be on your wholesale customers, to flag orders with that exceed the payment terms.
  1. Navigate Settings > Payment Terms and Credit.
  2. Press Add Payment Terms.
  3. Complete the fields as applicable. 


Add to vendor to auto add to PO:
  1. Navigate Company Settings > Toolbox > Vendors > select a vendor. 
  2. Select the payment term from the dropdown.
  3. Under Client Settings, select Print Payment Terms on PO PDF.
Add to a wholesale customer:
  1. Navigate Customer tab > search and select customer. 
  2. Select the payment term from the Credit Term dropdown. The Days to Pay value will be used as the term value. Configure a credit limit, or the amount of credit extended in the payment term. Select a billing cycle date to begin the credit term. Read more about  terms and credit below.
  3. When the payment term and credit is exceeded, you will not be able to create an order for this customer. This can be controlled, however, by the client setting Allow to create over Credit Limit WholeSale orders.
  4. If the order is cancelled or returned, the customer's account will be credited with the order total.

Understanding Credit Terms and Credit Limit
Credit Limit refers to the amount of credit extended. 
Credit Term refers to the period of time the credit is extended. 
For example, a customer may have a $5,000 credit over 30 days. Even if the customer uses only $2,500 in the 30 days he must still pay the balance before being issued credit again. At this point SellerCloud will not prevent an order from being shipped when exceeding the credit term. However, you can track the orders by opening the customers account and clicking on Orders in the side menu. If the customer went over the limit, a link will appear where you can view those orders and manually prevent their shipping.  







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