Additional payment term options such as 60 days EOM
We have more and more customers requiring the 60 days from EOM option and not having this option is causing confusion and frustration with our customers
I agree, a lot of our suppliers have payment terms based on EOM.
I agree, more options - a good due date would be the first day of the month after, as many 30 day accounts pay 30-60 days. So if invoiced in Sept, due date is 1st Nov. It then shows up in Xero, or whatever, as due in the month of November, which makes cash flow and aged receivables reports more accurate.
And a 2% 10 NET 30 for Example.
Also one that allows credit card payments within a timeframe.
After 10 days, the pay with stripe will not work or will have a convenience fee.
Once you give NET 30 or NET 60 to a customer, they typically shouldn't be allowed to pay with a credit card at the end of the term.
At the very least an option should be 'X number of days from EOM'. so you can select 30, 45, 60, 90, 120 days from EOM. Many of our customers operate on these terms and Xero supports it just not Dear.