How to configure Periodical invoicing payment terms

In order to create periodical invoices, specific payment term configuration is required to support the creation of periodical invoices: 

• Configure a separate payment term set for periodical invoicing
• In the paymentterm set Periodical Invoicing, add 2 terms (per payer type):
  • 1 payment term for periodical invoicing 
  • 1 payment term for ‘no invoice’.
  • NOTE: The payment terms for periodical invoicing should have a higher priority than terms for no snapshot.

Common periodical invoicing configuration could be:

• Payment term set Periodical Invoicing
  1. Periodical Invoicing | payer type Customer | priority 10
  2. Periodical Invoicing | payer type Paying Customer | priority 20
  3. Periodical Invoicing | payer type Agent | priority 30
  4. No invoice | payer type Customer | priority 100
  5. No invoice | payer type Paying Customer | priority 200
  6. No invoice | payer type Agent | priority 300

It is advised to configure a meaningful issue date and due date, to have periodical invoices automatically created with the correct issue and due date. 

• An example for periodical invoice dates could be:
  • Issue date: invoice start date
  • Due date: 14 days after invoice start date
• NOTE: In practice, this means a periodical invoice (for instance monthly) is issued on the starting day of the invoiced period (issue date) and should be paid 14 days later at latest (due date).