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Level 1

What does 2% 10 Net 30 mean on Payment terms?

 
3 Comments
Moderator

What does 2% 10 Net 30 mean on Payment terms?

It's my pleasure to help clarify things for you, b-sstafford_1.

 

Terms in QuickBooks Desktop shows the number of days by which payment is due and sometimes include a discount for early payment. The 2% 10 Net 30 term means that the payment will due in 30 days with a 2% discount if paid within 10 days.

 

In case you need reference on how to setup or modify the payment terms, you can follow the steps below:

  1. Go to Lists at the top.
  2. Select Customer & Vendor Profile Lists.
  3. Choose Terms List.
  4. From the Terms drop - down on the left, choose New or Edit Terms.
  5. Enter your preferred name for the payment term, then click OK.

Feel free to read through this article to learn more about setting up payment terms in QuickBooks Desktop.

 

You know where to find me if you have follow-up questions. I'll be around in the Community and I'm always happy to assist. Have a good day ahead!

Level 1

What does 2% 10 Net 30 mean on Payment terms?

Does this same ability exist in Quickbooks Online?  If not, is it coming in an upcoming release?

QuickBooks Team

What does 2% 10 Net 30 mean on Payment terms?

Thanks for joining the thread, @charrison.

 

I can see here that you've posted a question twice, @ReyJohn_D has already responded and shared solutions to this issue. You can browse this link: https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/are-payment-terms-with-disc....

 

If you need more help regarding other tasks in QuickBooks Online, you can check our articles here. Just make sure that the topic is set as "QuickBooks Online."

 

Don't hesitate to drop a comment below if you have other questions. I'm always happy to help. Take care!

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