Under Billing Options:
Firm Settings > Billing & Accounting Options section,
there is a dropdown list for Default Payment Terms. This drop down field provides you with options to change the default terms of payment for all invoices generated.
1%/10 net 30
1%/10 net 30 is a way of providing cash discounts on purchases. It means that if the bill is paid within 10 days, there is a 1% discount. Otherwise, the total amount is due within 30 days. For example, if "$1000 1/10 net 30" is written on a bill, the buyer can take a 1% discount ($1000 x .01 = $10) and make a payment of $990 within 10 days or pay the entire $1000 within 30 days.
2%/10 net 30
This option allows the client to have a 2% discount for payment to a vendor within 10 days, or pay the full amount (net) of their accounts payable in 30 days.
Due On Receipt
Full Payment is due. No discounts applied for early payment.
Net 15, Net 30 and Net 60
The net amount, or the total outstanding balance on the invoice, is expected to be paid in full and received by the seller within 15, 30 or 60 days after the goods are dispatched or service is completed.
How Do I Add a Payment to an Invoice?
There are multiple ways to add payments to client invoices in Zola Suite: Adding Payments as Retainers - If a client deposited funds for you to work and bill against, you can add the funds as a new retainer then apply the retainer individually or in ...
How do I apply a partial payment to an invoice?
If a client will be paying invoices in installments or give you one large amount for multiple invoices, you may need to apply a partial payment. To do so: Select from either the Quick Add or in the Accounting Section, 'Apply Direct Payment' Fill out ...
How do I apply direct payment to more than one invoice for a client?
With "Apply Direct Payment" you can add one payment to multiple invoices from multiple or specific matters for a contact Go to the Accounting section, click on the "+" and click Apply Direct Payment. This will allow you to apply a payment to a ...
How Do I Record A Deposit That Is Not A Payment to an Invoice?
Oftentimes, you will have deposits going into your operating account that are not client-related. This could include owner's contributions, donations, interest deposits, or any other payments coming into the firm that are not payments to an ...
How Do I Approve Draft Invoices?
If your firm has the "Draft By Default" setting enabled in Firm Settings, Invoices will need to be approved before payments can be applied to them. From the Invoice Grid: 1. Find the Invoice you'd like to approve and click the button. 2. If the ...