Payment Terms are the length of time that a customer has to pay your invoices. This number, in days, is the length of time after the invoice date or month-end the payment needs to be paid by. This will be the payment due date.

 

If the Payment Terms have not been put in Tally. You can input the payment terms in the Edit Contact option.

 

 

The priority order we are the following is as follows:

  1. Payment Terms input in Invoice in Tally

  2. Payment Terms input in Ledger Details in Tally

  3. Payment Terms input here

 

If you want to change the due date for which payment terms are input in Tally - It will need to be changed from your Tally itself.