Setup Payment terms in Sage 500

By | February 24, 2021

Maintain Payment terms which determine the terms that apply at the time of items purchased or sold. You can define unlimited payment terms to be used during Accounts Payable and Accounts Receivable transaction processing.

While defining payment terms, you can specify the following points in Payment terms.

  • Whether the payment term is a COD type term code.
  • Also you can define timeline like a certain number of days or months or a specific date of the month for whether an invoice or voucher is due.
  • How the due date and discount date computed for an invoice or voucher.
  • Determine whether discounts on freight or taxes for specific payment terms are allowed on an invoice or voucher.

User can find the Setup payment terms option in Common information module.Goto Common information > Maintenance > CI Setup > Setup Payment terms

Payment terms

In this way you can set and maintain payment term in Sage 500.

About Us

Greytrix – a globally recognized and one of the oldest Sage Development Partner is a one-stop solution provider for Sage ERP and Sage CRM organizational needs. Being acknowledged and rewarded for multi-man years of experience, we bring complete end-to-end assistance for your technical consultations, product customizations, data migration, system integrations, third party add-on development and implementation competence.

Greytrix offers unique GUMU™ integrated solutions of  Sage 300 with Sage CRM,, Dynamics 365 CRM and Magento eCommerce along with Sage 300 Migration from Sage 50 US, Sage 50 CA, Sage PRO, QuickBooks, Sage Business Vision and Sage Business Works. We also offer best-in-class Sage 300 customization and development services and integration services for applications such as POS | WMS | Payroll | Shipping System | Business Intelligence | eCommerce for Sage 300 ERP and for Sage 300c development services we offer, upgrades of older codes and screens to new web screens, latest integrations using sData and web services  to Sage business partners, end users and Sage PSG worldwide. Greytrix offers 20+ addons for Sage 300 to enhance productivity such as GreyMatrixDocument AttachmentDocument NumberingAuto-Bank ReconciliationPurchase Approval SystemThree way PO matchingBill of Lading and VAT for Middle East. The GUMU™ integration for Dynamics 365 CRM – Sage ERP is listed on Microsoft Appsource with easy implementation package.

For more details on Sage 300 and Sage 300c Services, please contact us at, We will like to hear from you.