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rachel-beyondfoa
Level 1

I have several suppliers that the payment terms are end of the month following, or the 15th of the month following. Can I set up default terms based on invoice date?

 
5 Comments 5
JamesM4
QuickBooks Team

I have several suppliers that the payment terms are end of the month following, or the 15th of the month following. Can I set up default terms based on invoice date?

Hello rachel-beyondfoa,

 

Thanks for taking the time to reach out to us here in the Community. Recording your transactions properly is an essential step for maintaining clean books. QuickBooks is a powerful program that enables you to enter your recurring transactions without any hassle. 

 

Just to confirm, are you looking to set up a recurring transaction? If so, I encourage you to check out this helpful article that provides more info on how to: 

Create recurring transactions in QuickBooks Online. The article does a great job at showing you how to use and enter a recurring entry in QuickBooks. I encourage you to check it out and let me know if you need anything else as you go through the article. 

 

Feel free to ask other questions, I've got your back.

rachel-beyondfoa
Level 1

I have several suppliers that the payment terms are end of the month following, or the 15th of the month following. Can I set up default terms based on invoice date?

Not a recurring transaction.

 

I am entering a bill from a supplier. Their terms on payment due on the 15th or 30th of the month following. I would like to set that up as the default term for the supplier instead of N30, etc.

Alex M
QuickBooks Team

I have several suppliers that the payment terms are end of the month following, or the 15th of the month following. Can I set up default terms based on invoice date?

Hi there rachel-beyondfoa,

 

In order to create a new payment term in QuickBooks Online, go to the Gear icon, then All lists. Click on payment terms, then you can add a new one from this section.

 

There isn't the option to set up default payment terms for a specific supplier, but you can set up a default term for all bills by going to the Gear Icon, then Account and settings. Go to the Expenses tab, then select Default bill payment terms. I can see how having the ability to add this information for each individual supplier would be a feature you'd like to see to help manage your expenses and payables. I recommend leaving feedback in the system by clicking on the Gear Icon, the Feedback. The comments in that section are taken into consideration when designing new features for QuickBooks Online.

 

If you have any other questions feel free to reach out here.

rachel-beyondfoa
Level 1

I have several suppliers that the payment terms are end of the month following, or the 15th of the month following. Can I set up default terms based on invoice date?

Thanks.

 

My follow up question is how do I set up so the so it meets my criteria. I look at the 3 options that are given. Fixed days doesn't work because that's net 30, 45, etc. Due certain day of month is the current month, not month following. And Due next month doesn't work for me as far as I can tell as my scenario is as follows.

 

In month one, I receive multiple bills from a supplier, they are all due on the 15th or the 30th in month two.

Amanda-B
QuickBooks Team

I have several suppliers that the payment terms are end of the month following, or the 15th of the month following. Can I set up default terms based on invoice date?

Hey rachel-beyondfoa,

 

Thanks for reaching back out here. I can see how having this feature would be beneficial for you and your Company. The options that you see are currently the only options that are available in QuickBooks Online. You are more than welcome to leave feedback for our developers following the steps provided above.

 

If you have any other questions, feel free to reach out here.

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