Select the type from the Type Terms drop down menu and enter a brief description. Next, enter the due date (can be either X number of days after the charge or a specific day of the month). The payment discount field is next and is entered the same way as the due date (X number of days or specific day of the month). If a customer has this term assigned to them and pays their bill within the assigned payment discount time frame, the customer will receive the discount entered in the Percent Discount field based on the items purchased that are discountable. You can also assign a minimum purchase for the term being created. Once you are finished, click OK.

To assign this new term to a customer, locate the customer within AR | Customer File and click on the Accounting tab. From here, click the Terms drop down menu (make sure you are in Edit mode) and select the term you created. Clicking Save will finalize this process.