Invoice Due Date

In any business, managing invoice due dates and payment terms is crucial for maintaining a healthy cash flow. This document provides a comprehensive guide on how to set up and manage invoice due dates and payment terms in your HirePOS account.

The Invoice Due Date field is located in the Other tab in the Invoice screen. This field can be calculated automatically based on the Payment Terms or changed manually on the invoice.

1. Go to Setup > Preferences > Payment Terms.

2. Click the Setup Payment Terms link towards the top of the page.

3. Select an existing Payment Term from the list or click the + New Payment Terms button to add a new record.

4. Set the Payment Due dropdown to Days After EOM or Days After Invoice Date.

5. Enter the Balance Due Days.

For most businesses, setting up a global default term for cash customers and specific payment terms for account customers is recommended.

To set up a global default payment term for your business:

1. From the top menu, select Setup > Preferences, then click the Sales option in the Preferences Menu.

2. Select your default payment terms from the dropdown to the right of the Payment Terms field.

3. Click Save Changes.

To set up specific payment terms for a single customer:

1. From the top menu, select Setup > Customers.

2. Search for a customer, then click the customer to edit.

3. Click the Account / Payment Terms subheading.

4. Enter the customer payment terms in the Payment Terms field.

5. Click Save Changes.

6. If a payment term is set up against a particular customer, it will take priority over any payment terms set in Setup > Preferences.

   Invoice Due Date and Accounting Exporters

   The accounting exporters (Xero, MYOB, Quickbooks, etc.) export the Due Date based on the following priority order:

   1. Invoice Due Date value located in the Other tab of the Invoice screen.

   2. Days Due (Default) field in the Options tab of the Accounting Exporter.

   3. Invoice Date field located in the Invoice screen.

   Invoice Due Date and Payments Outstanding

   The Invoice Due Date is reflected in the Invoices tab and column in Payments > Payments Outstanding. It is also used in the Send Overdue Reminders tab.

   On Your Tax Invoice Documents

   The Invoice Due Date value will appear on the Tax Invoice preview, to the right of the Payment Terms.

   In Your Email Templates

   An {InvoiceDueDate} placeholder is available for email templates (in both the Subject and Message body) to auto-populate when sending emails.