The Payment Terms tab allows configuring the payment terms options available for transactions like invoices. The title of a payment term is automatically determined from the number of days for the term. For example, a payment term of 7 days will be titled "Net 7". The payment terms are used to determine the due date for an invoice which in turns determines invoice statuses such as overdue. For example, if an invoice has a date of January 1 and a payment term of Net 7, the invoice will be due on January 8 (January 1 plus 7 days).
