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What are Terms?

QuickBooks enters terms for you if you specified payment terms when you set up the vendor's record. QuickBooks uses the terms to determine the due date of your bill payment and the date you must pay by to receive a discount for early payment.

Example: 2% 10 Net 30 means "2% discount if paid within 10 days, with the net (or total) amount due in 30 days" if the terms are standard terms, or "2% discount if paid by the 10th of the month, with the net amount due by the 30th of the month" if the terms are date-driven terms.

See also

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