How to configure payment terms in OpenERP ?

I am going to share an interesting topic here related to Payment terms in OpenERP.

Payment term is the way to configure payment option. It makes our things related to payment easy.

Lets start looking at how to configure,

To define new payment terms, use the menu Accounting -> Configuration -> Miscellaneous -> Payment Terms.

There are some options that you have to define to make payment term more generic.
Percent : The line corresponds to a percentage of the total amount, the factor being given in Amount To Pay : The value should be between 0 and 1.
Fixed Amount : This is a fixed amount given by the Value Amount box.
Balance : Indicates the balance remaining after accounting for the other lines.

Number of Days and Day of the Month, are use to calculate delay for each payment.

Once you will define payment term, now it’s time to configure it. Let’s assume that we have to set one payment term for all our customers. There is no value into payment term field in partner form.

Now we are going to set default payment term from the menu Setting -> Configuration -> Parameters -> Configuration Parameters.

Note : In above configuration, we didn’t select any company so in multi company environment, it will configure same value to all customers related to all companies configured.

Now open partner form again and check the value of payment term.

Here its done.


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