Setting up customer terms in MoneyWorks

Question: How do I change customize terms for customers?

MoneyWorks by default sets the payments terms for customers to the 20th day of the following month. It may be a New Zealand thing, or a rest of the world thing to those of us in North America. In any case you should set your terms for customers and suppliers by following the instructions below.

Individually

  • Go to Names List [Red arrow]
  • Open the Customer record [Purple]
  • Choose Pricing and Terms tab [Orange arrow]
  • Choose “Within Days” from the Terms drop down [Red rectangle]
  • Enter the terms you require for that customer changing 30 to whatever number of days desired  [Blue Arrow]
Optionally to set up Prompt Payment Discounts (PPD)
  • Choose “Within Days” from the drop down [Green rectangle]
  • Enter the PPD days e.g. 10 [Yellow arrow]
  • Enter the discount to be applied e.g. 10% [Grey arrow]
How do I set terms in MoneyWorks
Applying terms to all customers
  • Open Document Preferences (Edit menu > Document Preferences)
  • Select Terms tab [Purple arrow]
  • Choose Within fixed number of days [Blue arrow]
  • Enter the number of days e.g. 30 in the Days field [Green Arrow]
  • Push the Apply to All button

How do I setup terms in MoneyWorks

Note: If you are applying PPD to a select number of customers
  • Open Document Preferences (Edit menu > Document Preferences)
  • Select PPD tab [Green arrow]
  • Choose how you want to apply the Prompt Payment discount
    • Applicable to Taxes and Net amount, or Just Net amount [Red arrow]

MoneyWorks Prompt Payment Discounts

I hope this helps.

However, if you require additional assistance, check out my MoneyWorks Support Services listed here.

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