Create a Term

How to create a term in Method.

Updated over a week ago

The following steps will show you how to create a new payment term in Method's Terms App.

  1. From your Method dashboard, click ⊕ New on your Terms App, or click ⊕ New Term on the Terms List screen. 

  2. This opens the New / Edit Terms screen. 

    • Name*: Assign a unique and descriptive Name to your new term.

    • Term is Active?:  When checked, it makes this term available in dropdowns throughout Method. This is not available if you are using QuickBooks Online.

    • Discount Percent: Assign one if applicable Note: Usually, this option is used if you want to give a customer a discount if they pay their invoice early.

    • Term Option - Standard: Determines how many days from the transaction date before a payment is due. If you assigned a discount percent, identify in how many days the transaction must be completed for the discount to apply.

    • Term Options - Date Driven: identify what day of the month the transaction is due (e.g. the 25th).

      You can defer the transaction until the following month if it is received within a set number of days before the due date (e.g. if a customer receives an invoice within five days of the due date, the payment can be deferred).

      If you assigned a discount percent, identify the day the transaction must be completed in order for the discount to apply.

  3. Click Save & Back to go back to the Terms List, or click Save & New to create a new Term.

And you're done! You've successfully created a new term.

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