Terms of Payment

Terms of Payment

Within the Spend Cloud, the Terms of payment are used when encoding invoices and indicate within which term the invoices need to be handled. 

From the menu item Terms of payment in the Applicationmanagement> General, an overview can be seen of all available paymemt terms within the Spend Cloud environment. With the selection criteria it is possible to search for specific payementterms by name & number and depening on the structure of your environment, you can also search on administration-level.

It is possible to mark a specific Term of payment as default, this can be done via various places in the Spend Cloud:
  1. When adding / altering a paymentterm
  2. Within the settings of the administration
  3. Within the settings of de supplier / relation

Default Terms of payment

In case a specific paymentterm is set as default, this term will automatically be used for every newly added invoice in the environment. This option is only available when the paymentterms are not set per administration.

Default Terms of payment (per) administration

A default paymentterm can be set within the settings of the administration. In case your environment includes multiple administrations, a default paymentterm can be set per administration. The default will be used when invoices are booked on that administration. 

Default per supplier / relation

It is possible to set a default paymentterm per supplier / relation, the default data will be automatically used when the creditor is identified. 

When the default paymentterms are automatically applied by the system (by any of the above setting), it is always possible to manually change these.

Adding a new Term of payment

By clicking the 'Add'-button, it is possible to add new paymentterms. Fill in all the fields with a *, these are mandatory fields. When using multiple administrations, it is necesarelly to indicate for which administration you're adding a new Term of payment.
  1. Administration: If your environment works with multiple administrations and uses Terms of payment per administration, you first select the administration you want to add the new paymentterm for.
  2. Code: Provide the code which should be used for the paymentterm, the code should be the same as the code for this paymenterm in your financial package.
Warning! For direct payment orders the code "AI" should always be used. The Spend Cloud sends this code to the financial package by which the bookings are blocked for payment. 
  1. Number of days: fill in the amount of days this payment should be handled within.
  2. Default terms of payment (when using a single administration): to indicato if this term should be set as default.
After filling out all the mandatory fields, click 'Save' on the top. You can now use the new Terms of payment if they are also available in the financial package. 


Adding terms of payment

    • Related Articles

    • Payment methods Visma.net Financials

      For customers using Visma.net Financials in conjunction with Spend Cloud, it is possible in Spend Cloud to specify separate payment methods in addition to payment terms. Application Management Settings If the above has been enabled for your ...

    • Proces creating a new creditor

      Below are four work processes described that can lead to the creation of a new creditor. Option 1: Create Creditor based on central supplier request If invoice processing and the procurement module are in use The supplier is created by the central ...

    • Relations

      Within the Spend Cloud the Relations are used for booking invoices, commitments & contract and to link to suppliers. Via Application management / General / Relations you can view and manage all relations. There are several available fields so you can ...

    • Deleting data within Invoice Processing

      Within the Spend Cloud, we process a lot of data. In principle, we do not delete data unless requested. Users can delete emails themselves using the housekeeping functionality within the Spend Cloud. This is currently the only place where customers ...

    • Delete data from the Spend Cloud (GDPR)

      It is now known to everyone that you cannot store data and personal data indefinitely. After the data has served its legitimate purpose, it must be deleted. This can be read in article 5.1. of the GDPR. In this article we will tell you how the Spend ...