Custom Payment Terms

 

Presently, Nue offers the following standard payment terms: Due Upon Receipt, Net 15, Net 30, Net 45, and Net 60. 

 

Oftentimes, users have a need to create custom payment terms tailored to their unique business requirements, such as Net 7 or Net 90.  These custom payment terms can subsequently be used when creating quotes or orders. The Due Date of the resulting invoices will be calculated based on the selected custom payment terms. This article walks you through how to create custom payment terms in Nue.

Create custom picklist values

Payment Term is a field available on Account, Quote and Order objects.  On Account and Order, a global picklist value set is used, while on Quote, a local picklist value set is used.  So admin users will need to create custom picklist options for both the global and local picklist value set.

 

Please follow the steps below to create custom picklist values for the global picklist value set: 

• Login to Salesforce and navigate to Setup. 
• In the search box, enter 'Picklist', and click "Picklist Value Set" under "Objects and Fields".
• In the "Values" section, click "New".  Enter the custom picklist values, such as Net 7, Net 90, with each value in a separate line.  Click "Save". 
• For each of the newly created picklist values, click 'Edit', and change the API Name to a number that reflects the paymen term days, for example: 
  • Change the API Name of "Net 7" to "7";
  • Change the API Name of "Net 90" to "90".  

Please note that the API Name of the custom picklist value will be used as the actual payment term days to calculate the Due Date of invoices.  So it is important for the API Name to be a numeric value.  

 

Please follow the steps below to create custom picklist values for the local picklist value set for Quote object: 

• In Setup, navigate to Object Manager, and select Quote object. 
• Click 'Fields & Relationships'. 
• Click to open field 'Payment Term'. 
• In the Values section, repeat the steps above to add custom payment term picklist values.  

Now you can navigate to Nue and refresh the payment term values: 

• Login to Nue App and navigate to Settings
• Search for "Payment Term"
• Click on "Refresh" icon next to the list of values of Payment Term
• Verify that the new payment term(s) are added.  

Test custom payment terms

Now you can create an account, a quote or an order using the custom payment terms.  The Due Date of generated invoices will be calculated according to the selected payment term. 

NOTE   Currently, only the Payment Term value set on the Account will be used to calculate due dates for invoices.  So it is important to set the Payment Term value on the account properly.   When creating a quote or order for an account, the Payment Term will automatically default to the term associated with that account. Please note that any changes made to the payment term during the quoting or ordering process will not impact the invoice generation, as the invoice will use the account's payment term. This process may be enhanced in the future.