Payment terms: definition, example, and why it matters
Defines due date, accepted methods, late fee, and discount for early payment. Print these on every invoice and quote to make them enforceable.
- Short definition. The rules a customer agrees to about how and when they'll pay.
- Category. Payment terms is a payments term used by service businesses when billing customers.
- How Glo Invoice handles it. Glo Invoice builds payment terms into the invoice itself, so you don't track it on paper or in a spreadsheet.
Frequently asked questions
What does payment terms mean?
Defines due date, accepted methods, late fee, and discount for early payment. Print these on every invoice and quote to make them enforceable.
