Collaborate on Terms and Conditions on Invoice Sample for Management with Ease Using airSlate SignNow

Terms and conditions on invoice sample for Management

hi dear o doers and welcome back in this video we will see how to configure your payment terms as well as your terms and conditions to ensure invoices are paid correctly and on time we need to add payment terms payment terms give us three different options setting payment deadlines splitting payments into multiple installments and offering early payment discounts for more information on this last option see our other video on cash discount we can also have terms and conditions to expand further on our conditions these could include return policies disclaimers or any other Legal Information that the customer should be aware of these legal agreements between vendors and customers are usually found in quotations orders or on invoices for example in our invoice we can tell our clients that they owe us a certain amount but to ensure invoices are paid correctly and on time we need to add some framework for our customers let's see how to set these up for Bloom so here we are on our main dashboard and the first thing we'll do is take a look in the accounting app at our preconfigured payment terms so we'll go into configuration and payment terms here we have plenty of Standards like immediate payment 30 days and end of the following month these preconfigured payment terms are super useful as examples to help you understand how to create your own payment terms especially the more complicated ones that include multiple payment due dates or discounts per early payment so let's create a new payment term for Bloom we want to have a new payment term that will call 40% now 60% end of next month to configure this we'll set the percentage for the first line to be 40% zero days after the invoice date and then we'll create a second line where we'll ask for the remaining 60% and that will be zero days after the end of next month here on the right we have a preview where we can change the sample invoice date so that we can see how it will affect the due dates and what the payment terms will look like on the invoice we also need to enter the written explanation of our payment terms so that everything is perfectly clear for our customers so here I will write 40% due immediately remaining 60% due at the end of the following month and finally we have the option to show or hide these payment dates on the invoice next we'll talk about a separate concept that's often confused with payment terms this is the terms and conditions so to activate terms and conditions we'll go to the accounting settings and we will scroll down and get to our default terms and conditions so we'll click on that and then we can add them to the bottom of our invoices orders and quotations and here we can add our own short terms we'll just say please treat your PLS with love we are not responsible for neglect that's nice alos but what if I have some very long terms and conditions no problem so if your terms and conditions are too long to fit on the invoice we can always add a link to a web page where your terms and conditions are listed in full so we'll change to add a link to a web page we'll update terms and and here we can paste in whatever our new terms and conditions are and then we can even preview them but for now we'll go back to the settings we'll find our terms and conditions again and we'll just leave it as the short note next we'll go back to the accounting app and we'll create a new invoice for our friends at Acres lawn care and we'll add a few products they need some gardening gloves and of course they need some of our world famous garden gnomes as well and here we can add a simple invoice due date but instead we're going to use our newly created payment terms and we can see our default terms and conditions are already right here but they're editable in case we need to change anything for this specific invoice now before I even confirm this invoice I can preview it and see exactly what the customer will see on their end we can see we have our written explanation of the payment terms and the payment amounts and due dates and finally the default terms and conditions since all of that looks great I can go back into the invoice and confirm it that's great but is there a way to keep track of what my customers over of course so for that we can always take a look at the age receivables report under the reporting menu looks like Acres Lawn Care is a bit late we can see that they have an invoice that is between 31 and 60 days overdue so we're going to need to be following up with them and there you go see how easy it was now we can be sure our invoices are paid on time and we never miss a payment that's all from your pal I'll see you in the next one