Hi KASHNI, thanks for posting on the Community. There's no default term for end of month, but you can create custom invoice payment terms to apply to the invoice to achieve this. To create the term:
1. Go to Setting and All lists (Take me there)
2. Select Terms and New
3. Enter a Name for the term
4. Choose Due by certain day of the month
5. Enter 31 in the day of month field
You can create different terms (e.g. 30 day of month) for shorter months. Then, choose the relevant term from the Terms drop-down menu when creating the invoice.
If you send the invoice to your customer on a monthly basis, you may consider setting up recurring transactions instead.
Thanks for reaching Intuit support. We're just a post away if you have further questions or require additional assistance.