Configure payment terms

📝 Note: If the AppDirect logo appears in the upper-left corner of the page, when Manage > Marketplace appears in this topic, click the grid icon > Switch to | Store, instead.

This topic is applicable to marketplaces for which the following features are enabled:

• Enhanced invoice feature: When it is enabled, the Invoice Settings menu item appears at Manage > Marketplace > Settings.
• Payment terms: When it is enabled, Payment Terms setting appears at Manage > Marketplace > Settings > Billing Settings | Invoice Settings.

If either feature is disabled, contact your AppDirect technical representative to request it.

Payment terms dictate the number of days customers have to pay invoices after the invoice date. Marketplace Managers can create payment terms that appear on invoices to reflect the marketplace's standard terms, negotiated terms that appear in purchase contracts, and terms that reflect a company's positive or negative payment history.

This feature is AppDirect-enabled. Contact your AppDirect technical representative to request it. It must be enabled for the feature and the configuration settings to be available to you.

note

When Marketplace Managers create no payment terms, the system default of five days applies.

Payment terms are relevant when, for example, manual payment is enabled for a company (see Enable pay by check for companies), which can result in unpaid invoices. They are also relevant when payment gateways decline customer payment instruments for recurring subscription payments, which results in unpaid invoices. In both cases, customers have until the due date to pay the invoices before they are overdue.

Some subscriptions suspend when invoices become overdue. The suspension grace period, which delays suspension, starts from the invoice due date, which is defined by the system default of five days or payment terms. For example, an invoice due January 10 with a five-day grace period results in the subscription suspending after January 15.

Marketplace Managers create and set the default payment term for marketplaces. Then, you can also create additional payment terms and apply them to specific companies (see Set company payment terms), to override the marketplace default.

To create payment terms

1. Go to Manage > Marketplace > Settings > Billing Settings | Invoice Settings. The Invoice settings page opens, including the Billing | Payment Terms section.
2. Click Create Payment Term to create a payment term. The Create Payment Term dialog appears.
3. Enter the following:
   1. Name—A name for the payment term.
   2. Payment due—A number, which represents the number of days payees have to pay invoices after the date of the invoices. For example, when you enter 4, invoices with invoice dates of January 1 have due dates of January 5.
4. (Optional) Select Default payment term to set this as the default for the marketplace. Note that the first payment term that Marketplace Managers create for a marketplace is automatically the marketplace default.
5. Click Add. The payment term is saved and appears in the Payment terms table. The table displays a Default label beside the payment term if it is the first one saved, or if you selected the Default payment term option.
6. (Optional) Repeat this procedure to create another payment term. After you save them, all payment terms appear in the Payment Terms table.

To edit and delete payment terms

1. Go to Manage > Marketplace > Settings > Billing Settings | Invoice Settings. The Invoice settings page opens, including the Billing | Payment Terms section.
2. (Optional) Click the gear icon next to the payment term you want to edit. Then, do one of the following, to manage payment terms.
   • Click Make Default to make this the default payment term. The Change Default Payment Term dialog appears. Click Confirm Change.
   • Click Edit to edit the payment term. The Edit Payment Term dialog appears. Edit the fields, then click Save.
   • Click Delete to delete the payment term. The Delete Payment Term dialog appears. Click Confirm Delete.

   Note: You cannot delete a default payment term. First, you need to make another payment term the marketplace default.