Here you will read everything about how you can edit payment terms and how you can add your own ones next to the standard payment terms provided by Teamleader.
Editing payment terms
By default, the due date of invoices is set to 14 days after the date of the invoice. However, you still have several ways of changing this within Teamleader.
Creating an invoice
- Create an invoice
- Go the field "payment terms"
- Change the payment terms manually
Editing a client
You can also change the payment terms for certain companies. Those altered payment terms are then set automatically when you create an invoice for this client.
- In order to change the payment terms of a customer, go to Companies > Click on the company in question.
- Click on the three dots at the top when you are on the company detail page and go to “Invoicing preferences”.
- Afterwards you have the option to set default payment terms for this company under "Payment terms".
! Note: Changing the payment terms on the client page results in changing the payment terms for the already active subscriptions of that client.
Changing the default payment terms for all clients
You also have the option to change the default payment terms of your invoices to e.g. 30 days. All your invoices are then due 30 days after the invoice date by default.
- In order to do so, simply navigate to Settings > Invoices > Payment terms
- Click on the payment term you would like to set as default.
Of course, you still have the option to overrule this date when you create an invoice or alter the payment terms on company level.
Adding payment terms
Under Settings > Invoices > Payment terms, Teamleader offers a standard list of payment terms. However, you have the opportunity to either add specific payment terms you need for your business or to delete the ones you don't need, in order to shorten the list and maintain an overview.
Go to Settings > Invoices > Payment terms
- Click on the plus sign next to "Payment terms" and fill in how many days after the invoice date your invoice should be due.
- In order to delete a payment term, click on the small bin symbol next to it.
- If you delete a payment term which is used for an existing invoice or subscription, the invoice or subscription does not get changed but you cannot choose this payment term anymore for new invoices or subscriptions.
- If you delete a payment term which is used as default payment term for a contact or a company, it remains the same and will still get suggested as default payment term when creating an invoice or a subscription but it cannot be chosen anymore for new contacts or companies.