Invoicing glossary
Payment terms
Payment terms are the conditions under which you expect to be paid — when payment is due and how it should be made.
Payment terms: a clear definition
Payment terms cover the due date (e.g. Net 30, due on receipt), accepted payment methods, any deposit required, and any late fees. Clear terms on every invoice reduce disputes and get you paid faster.
Payment terms in Invco
Each invoice has a payment terms field and a due date, and your template can print your bank details so clients know how to pay. Invco doesn't add late fees or send reminders, so state any late-fee policy in your terms.
Invco is invoicing software for people who run more than one company. Design your own invoice template or upload your existing invoice PDF, and Invco calculates subtotals, tax and totals, numbers each invoice sequentially and emails it as a branded PDF from your own address. Plans from $10/month.
Related terms
- Net 30Net 30 is a payment term meaning the full invoice amount is due within 30 days of the invoice date.
- Late feeA late fee is an extra charge added to an invoice when it isn't paid by the due date.
- DepositA deposit is an upfront partial payment a client makes before work begins, with the balance invoiced later.
Frequently asked questions
What is payment terms?
Payment terms are the conditions under which you expect to be paid — when payment is due and how it should be made.
Where do payment terms go on an Invco invoice?
Each invoice has a payment terms field and a due date, and your template can print your bank details so clients know how to pay. Invco doesn't add late fees or send reminders, so state any late-fee policy in your terms.
What is Net 30?
Net 30 is a payment term meaning the full invoice amount is due within 30 days of the invoice date.
Invoice the easy way with Invco
Design your invoice template, send branded PDFs from your own email address, and see what's paid and overdue for every company. Plans from $10/month, with a full refund within 7 days.
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