Setting Up Vendor Payment Terms and Credit Limits

Vendor Payment Terms

Configure payment terms per vendor to accurately track when payments are due and manage your cash flow.

Common Payment Terms in InvenPro

• COD — Cash on Delivery (payment when goods arrive)
• Net 7 / Net 15 / Net 30 — payment due 7, 15, or 30 days after invoice date
• Advance — full payment before goods are shipped
• 50% Advance, 50% on Delivery — split payment

Setting Payment Terms

1. Go to Procurement → Vendors → open a vendor
2. Click the Financial tab
3. Select: Payment Terms, Credit Limit (maximum outstanding balance), Currency
4. Click Save

Aged Payables Report

Go to Reports → Aged Payables to see all outstanding vendor balances grouped by: 0–30 days, 31–60 days, 61–90 days, 90+ days (overdue). Use this to prioritize payments and maintain good vendor relationships.

Credit Limit Alerts

InvenPro warns you when creating a new PO if the vendor's outstanding balance would exceed their credit limit.