--- title: How to create payment terms description: In this guide you will learn how to create payment terms in your Rackbeat agreement. --- [Skip to content](https://helpdesk.rackbeat.com/knowledge/ht-00044#main-content) - [English](https://helpdesk.rackbeat.com/knowledge/ht-00044) - [Dansk](https://helpdesk.rackbeat.com/da/knowledge/ht-00044) - [Norsk – Norge](https://helpdesk.rackbeat.com/no-no/knowledge/ht-00044) - [Svenska](https://helpdesk.rackbeat.com/sv/knowledge/ht-00044) English Show submenu for translations [Contact us](https://helpdesk.rackbeat.com/knowledge/kb-tickets/new?hsLang=en) Open main navigation Close main navigation - - [English](https://helpdesk.rackbeat.com/knowledge/ht-00044) - [Dansk](https://helpdesk.rackbeat.com/da/knowledge/ht-00044) - [Norsk – Norge](https://helpdesk.rackbeat.com/no-no/knowledge/ht-00044) - [Svenska](https://helpdesk.rackbeat.com/sv/knowledge/ht-00044) English Show submenu for translations - [Contact us](https://helpdesk.rackbeat.com/knowledge/kb-tickets/new) - [AI Chat](https://chat.applai.io/chatbot/W5EFe14XJ8mW0OlrIzTS) [AI Chat](https://chat.applai.io/chatbot/W5EFe14XJ8mW0OlrIzTS) How can we help you? - There are no suggestions because the search field is empty. 1. [Helpdesk](https://helpdesk.rackbeat.com/knowledge?hsLang=en) 2. [GETTING STARTED / SETUP](https://helpdesk.rackbeat.com/knowledge/getting-started-setup?hsLang=en) 3. [General Setup](https://helpdesk.rackbeat.com/knowledge/getting-started-setup?hsLang=en#general-setup) # How to create payment terms ## In this guide you will learn how to create payment terms in your Rackbeat agreement. **Table of Contents** - [Create or edit a payment term](https://helpdesk.rackbeat.com/knowledge/ht-00044#create) - [Translation of a payment term](https://helpdesk.rackbeat.com/knowledge/ht-00044#translation) - [Overview of payment terms](https://helpdesk.rackbeat.com/knowledge/ht-00044#overview) --- ### Create or edit a payment term - Hover over your company name in the top right corner and select **“Company Settings”**. - Click **“Payment Terms”** in the menu on the left. - Click **“Create New”** in the top right corner. - Enter the name, type, and number of days for the given payment term. - Click **“Create new payment term”** to finish, or **“Create and new”** to create another one. --- ### Translation of a payment term - Click the term’s number or **“Edit”** to open the payment term. - Go to the **“Language”** tab to access translations. - Enter the name and description in the chosen language, and click **“Save”** afterwards. --- ### Overview of payment terms - **End of Month:** Payment is due at the end of the month in which the order date falls, plus the number of days specified. - **Net:** Due date is calculated from the order date + the specified number of days. - **Cash Payment:** Payment is made at the time of purchase. Recommended for in-store and webshop sales. *Remember to select an offset account on the Cash Payment term if you are using e-conomic.* - **Prepayment:** The amount is paid in advance, no due date. - **Due Date:** When this term is added to an invoice, you must manually specify a due date in a new field. - **Factoring (requires e-conomic integration):** When another party handles the collection of the amount, you can split the sale into two portions. - Fill in the top field **“% Distribution”** with the percentage that the account specified in **“Offset Account 1”** should receive. - Fill in the bottom field **“% Distribution”** with the percentage that the account specified in **“Offset Account 2”** should receive. - **Weekly with Monday Start:** Due date is calculated as the number of days from the next Monday. - **Weekly with Sunday Start:** Due date is calculated as the number of days from the next Sunday. - [GETTING STARTED / SETUP](https://helpdesk.rackbeat.com/knowledge/getting-started-setup?hsLang=en#main-content) - [For new agreements](https://helpdesk.rackbeat.com/knowledge/getting-started-setup?hsLang=en#for-new-agreements) - [General Setup](https://helpdesk.rackbeat.com/knowledge/getting-started-setup?hsLang=en#general-setup) - [Add-ons](https://helpdesk.rackbeat.com/knowledge/getting-started-setup?hsLang=en#add-ons) - [Sales](https://helpdesk.rackbeat.com/knowledge/getting-started-setup?hsLang=en#sales) - [Products](https://helpdesk.rackbeat.com/knowledge/getting-started-setup?hsLang=en#products) - [Purchasing](https://helpdesk.rackbeat.com/knowledge/getting-started-setup?hsLang=en#purchasing) - [TIPS & TUTORIALS](https://helpdesk.rackbeat.com/knowledge/tips-tutorials?hsLang=en#main-content) - [Export](https://helpdesk.rackbeat.com/knowledge/tips-tutorials?hsLang=en#export) - [Import](https://helpdesk.rackbeat.com/knowledge/tips-tutorials?hsLang=en#import) - [Rackbeat](https://helpdesk.rackbeat.com/knowledge/tips-tutorials?hsLang=en#rackbeat) - [Reporting](https://helpdesk.rackbeat.com/knowledge/tips-tutorials?hsLang=en#reporting) - [Frequently asked questions](https://helpdesk.rackbeat.com/knowledge/tips-tutorials?hsLang=en#frequently-asked-questions) - [RACKBEAT MOBILE APP](https://helpdesk.rackbeat.com/knowledge/rackbeat-mobile-app?hsLang=en#main-content) - [Sales](https://helpdesk.rackbeat.com/knowledge/rackbeat-mobile-app?hsLang=en#sales) - [INTEGRATIONS](https://helpdesk.rackbeat.com/knowledge/integrations?hsLang=en#main-content) - [Integration partners](https://helpdesk.rackbeat.com/knowledge/integrations?hsLang=en#integration-partners) - [Shopify](https://helpdesk.rackbeat.com/knowledge/integrations?hsLang=en#shopify) - [Woocommerce](https://helpdesk.rackbeat.com/knowledge/integrations?hsLang=en#woocommerce) - [Shipmondo](https://helpdesk.rackbeat.com/knowledge/integrations?hsLang=en#shipmondo) - [Webshipper](https://helpdesk.rackbeat.com/knowledge/integrations?hsLang=en#webshipper) - [Legacy integrations](https://helpdesk.rackbeat.com/knowledge/integrations?hsLang=en#legacy-integrations) - [The Rackbeat | e-conomic integration](https://helpdesk.rackbeat.com/knowledge/the-rackbeat-e-conomic-integration?hsLang=en#main-content) - [Valuation](https://helpdesk.rackbeat.com/knowledge/the-rackbeat-e-conomic-integration?hsLang=en#valuation) - [FAQ](https://helpdesk.rackbeat.com/knowledge/the-rackbeat-e-conomic-integration?hsLang=en#faq) - [Installation & settings](https://helpdesk.rackbeat.com/knowledge/the-rackbeat-e-conomic-integration?hsLang=en#installation-settings) - [Your Rackbeat agreement](https://helpdesk.rackbeat.com/knowledge/your-rackbeat-agreement?hsLang=en#main-content) - [Billing](https://helpdesk.rackbeat.com/knowledge/your-rackbeat-agreement?hsLang=en#billing) - [Account](https://helpdesk.rackbeat.com/knowledge/your-rackbeat-agreement?hsLang=en#account) - [Other](https://helpdesk.rackbeat.com/knowledge/your-rackbeat-agreement?hsLang=en#other) Rackbeat Helpdesk [Go to rackbeat.com](https://rackbeat.com/en/)         [Contact us](https://helpdesk.rackbeat.com/en/knowledge/kb-tickets/new?hsLang=da)