Financial Exchange: Vendor Payment Terms

Exchange Overview | Enter Vendor Billing Information

Basic

Vendor payment terms are used to calculate when a bill is due and what (if any) discount percentage should be applied to the bill. The terms defined on the vendor record in Point of Sale are automatically suggested on all purchase orders and receiving vouchers made for that vendor.

When exchanging data with QuickBooks, the default payment terms defined in QuickBooks are automatically populated to the vendor record in Point of Sale for imported vendors. Changing the terms in either program updates the other with the same change on the next exchange.

If you enter vendor billing information in Point of Sale, adding different terms to a voucher will also add those terms to the QuickBooks terms list, but will not overwrite the default terms for the vendor in either program. The voucher terms will also be carried to the bill created in QuickBooks.

You can use these links for more information and illustrations:

- You can view the matching vendor record in QuickBooks for a Point of Sale vendor via a link in your Point of Sale vendor list.

- Read various ways to customize Financial Exchange

Overview: How QuickBooks handles Point of Sale data