Construction and Finance · Odoo glossary
Payment Terms
Payment terms define when an invoiced amount is due and how it is divided into installments, including any conditions for early-payment discounts.
Definition
In general ERP practice
Payment terms define when an invoiced amount is due and how it is divided into installments, including any conditions for early-payment discounts.
In Odoo
In Odoo, payment terms calculate due dates and installment amounts on invoices and bills. They are different from an invoicing policy, which determines when an invoice is created.
Construction example
A contract may require a payment application to be reviewed before invoicing. Keep that approval step distinct from the invoice due date. Record the agreed trigger, approval period and payment deadline so the team knows which obligation it is tracking.
An advance invoice, a progress invoice and an installment on one invoice represent different events. Agree the process before configuring due dates.
Official Odoo documentation
The Odoo-specific explanation above is based on the documentation for Odoo 19. Features and workflows can differ in other versions.
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