What are customer Payment Terms?

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The payment terms feature in Navotar is used to manage the amount of time since the check-in of a rental agreement, the customer has to settle their balance dues.

This setting is applicable per customer and applies to all their rental contracts.

The payment terms options in Navotar are as follows:

  1. Immediate – The customer is expected to pay the balance due at the immediate end of the rental
  2. Net15 – The customer is given 15 days to settle their balance due, before the agreement becomes overdue.
  3. Net30 – The customer is given 30 days to settle their balance due, before the agreement becomes overdue.
  4. Net45 – The customer is given 45 days to settle their balance due, before the agreement becomes overdue.

To assign a customer a payment term, please follow these steps.

1. Go to the Customers profile.

 

2. Click on the Edit button.

 

3. Select the appropriate Payment Term under the Financial Settings block.

4. Once you have changed the Payment Term, you can click the Save button.

Now, when on a rental agreement, you will be able to view the payment term for this contract at the top of the page.

When the Payment Term is Immediate, it will display as follows.

When the Payment Term is Net15, it will display as follows.

 

When the Payment Term is Net30, it will display as follows.

When the Payment Term is Net45, it will display as follows.

When the Payment Term is Overdue, it will display as follows.

If you have any queries regarding this process, please send our Support Team an email to support@navotar.com.

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