Different Payment Terms and Payment Modes - Smarter Sales & Inventory Management | Zayls

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Knowledge Base Sales | Different Payment Terms and Payment Modes

Different Payment Terms and Payment Modes

Payment Terms

Payment Terms is the agreed condition when the buyer would pay for the amount due.

Examples:

  • NET15 – Payment 15 days after the invoice date
  • NET30 – Payment 30 days after the invoice date
  • COD – Cash on Delivery

 

In Zayls, you can set up numerous Payment Terms under Settings.

Examples:

  • DEL15 – Payment 15 days after Invoice Received
  • DEL30 – Payment 30 days after Invoice Received

Payment Mode

Payment Mode pertains to how the client will pay for the amount due.

Examples:

  • Cash – This mode pertains to the client paying your company in cold cash
  • Direct Deposit – This mode pertains to the client paying through the bank on your account
  • Checks – This mode pertains to the client paying using their bank-issued check