Important

You are browsing upcoming documentation for version 5.1 of OroCommerce, OroCRM, and OroPlatform, scheduled for release in March 2023. Read version 5.0 (the latest LTS version) of the Oro documentation to get up-to-date information.

See our Release Process documentation for more information on the currently supported and upcoming releases.

Available in OroCommerce

Manage Payment Terms in the Back-Office

Use payment terms configured per customer to help them use the payment conditions guaranteed by their contract with your company.

A payment term is a set of conditions required for a sale to be completed, e.g., the period that is allowed for a buyer to pay off the amount due. Payment terms may also include cash in the advance requirement, cash collection on delivery, a deferred payment period of 10/20/30 days, etc.

Hint

To use payment terms in the storefront:

  1. Enable Payment Terms Integration in the system configuration.
  2. Create a Payment Term with the conditions you would like to offer your buyers.
  3. Link a Payment Term to a Customer Based on Their Sales Agreement (optional).
  4. Create a payment rule and add your integration to it to display this method to the customers at checkout.

Create a Payment Term

To create a new payment term:

  1. Navigate to Sales > Payment Terms in the main menu.

    Create a new payment method
  2. Click Create Payment Term.

    Provide payment term name
  3. Type in the label that is informative for both the salesperson and the customer buyer, as it will be exposed as one of the payment options for both parties.

  4. Click Save.