To change the payment terms on your invoice templates, select 'Payment Terms' and choose one from the drop-down menu:
If you can't find the payment terms you want, you can create your own by following the steps below:
- Use the 'Search tool' to search New Payment Terms:
- Enter the name of your new payment term i.e. "in 14 days"
- Where it asks you to define the instalments of your Payment Template, enter 100%
- Number of days: 14 (Put 0 for "X days" for this example)
- Adjust the 'Rules'
- The Payment method will not be displayed on your documents
- Select 'Done'
To add payment terms for 12 monthly installments:
- Divide 100% by 12
- Input the percentage of the total value of the invoice payable each month.
- Press 'Add an installment' for each month
- Adjust the No. of days adding 30 to each line:
Please note that it is the user's responsibility to ensure that all invoices and credit notes issued to customers are compliant with HMRC’s rules on the issuance of invoices and credit notes. For more information, and to familiarise yourself with the latest advice, please refer to the government’s website.