This topic explains how to create and activate payment terms in the Billing Settings.

1. In Billing Settings, click Payment Terms .
2. Click add new payment terms and select the option you want ( Net Payment Term or Prox Payment Term ).
3. Complete the fields that appear for the option selected.
4. Click save .
5. To activate the payment term so that it is available, locate the payment term on the Customize Payment Terms list page and click Activate .
   Note:

   If the invoice date or payment due date is greater than the maximum number of days in a given month, these dates default to the end of the month value.