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Payment Terms

Payment terms tell The BOS when payment is expected for an invoice. They can be a number of days after the invoice date, a recurring payment day, or a combination of both. The BOS uses them to set an invoice's due date when it creates the invoice or receives one without a due date.

Which payment terms apply?

When The BOS needs to calculate a due date, it checks these settings in order:

  1. Contact payment terms: If the invoice has a payer Contact with its own terms, those terms apply.
  2. Payer default: If the invoice has a payer Contact without its own terms, the tenant's Payers without their own terms setting applies.
  3. Private default: If the invoice has no payer Contact, the tenant's Private invoices setting applies.

An invoice received with an explicit due date keeps that date. Nookal does not provide due dates through its API, so The BOS calculates and stores one using the applicable terms. That BOS due date is not sent to Nookal.

Set your tenant defaults

Go to Company Settings → Payment Terms. Set and save both Private invoices and Payers without their own terms.

For each rule, choose:

  • Days after invoice date: Enter zero or more days. Zero with no schedule means the invoice is due on its invoice date.
  • Count working days: Turn this on to skip weekends and public holidays in your tenant's state. Leave it off to count calendar days.
  • Payment schedule (optional): Choose the recurring payment day or days. The BOS adds the day offset first, then sets the due date to the first scheduled day on or after that result.

For example, an invoice dated Friday 2 October with 3 calendar days and a Thursday payment schedule is due Thursday 8 October. The three-day offset reaches Monday 5 October; the next scheduled Thursday is 8 October.

A schedule can also represent a monthly payment run. With 3 calendar days and a run on the 14th of each month, an invoice dated 10 October is due 14 October. An invoice dated 12 October passes that month's cutoff and is due 14 November.

Set terms for a particular payer

Go to Manage Contacts, open the payer Contact, and save an override under Payment terms. This takes priority over the tenant payer default. To remove it, select Use tenant payer default.

The Payment terms column in Manage Contacts shows Contacts with their own rule. A blank cell means the Contact uses the tenant payer default. Select Has payment terms to show only Contacts with an override.

What happens to existing invoices?

The calculated due date is saved on the invoice. Changing payment terms later affects newly created or newly received invoices; it does not recalculate due dates already saved on existing invoices. An invoice with an explicit due date from its source also keeps that date.

On a BOS invoice PDF, Due Date appears alongside the invoice date and invoice number when a due date is present. Your invoice footer may also show the expected payment date and a description of the current payment terms. Because the description is generated when the PDF is made, it can differ from the rule that originally produced an older invoice's saved due date. Use the displayed Due Date as the date recorded on that invoice.

See payment terms in Mega

Use the Credit Term Status breakdown to see invoices Within Credit Terms or Outside Credit Terms:

  • If an invoice is fully paid, The BOS compares its last payment date with its due date.
  • If it is not fully paid, The BOS compares today's date with its due date.
  • Payment on the due date counts as within terms; payment after it counts as outside terms.

The Invoices Paid statistic shows actual payments as the solid value. Its lighter forecast value includes those payments plus the current unpaid balances of invoices due in the selected period. An overdue unpaid balance stays in its original due-date period. When an invoice is paid, its payment appears on the actual payment date and its unpaid forecast disappears.

Invoices without a due date cannot be placed in a due-date forecast period or classified by Credit Term Status. If an ordinary invoice has an invoice date but no due date, contact your BOS support team.

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