Overview
The Payment Terms module is a new workspace-level table designed to help you define, manage, and apply payment terms across your projects and invoices.
Prerequisites
Workspace must have an accounting integration enabled (custom or standard).
Users must have the appropriate permission to create and edit accounting companies to manage them.
Process
Once your integration is configure in workspace settings:
Set Up your Accounting Companies
Navigate to the Lists and Templates module and select the Accounting Companies tab
Click Add Accounting Company and fill in any necessary fields
You can also use our API add these Accounting Companies into the system.
Connect an accounting Company with a Company Contact
Navigate to the Companies Module and select the company you would like to connect to an accounting company.
Navigate to the Accounting Companies tab and click Add Accounting Company or Edit.
Search and select the accounting company(s) you would like to connect.
Assign one of the Accounting Companies to a Contract or Non-Contracted Invoice
If you select a Contact from a company that has multiple accounting companies connected to it you will see an additional field in a contract called Accounting Company.
Select the appropriate accounting company and continue with creation of your contract or non-contracted invoice.
Note: You can chose to require the Accounting Company field if a company your user selected has multiple assigned by enabling the follow setting in Company Settings > Financial Governance:
Require Accounting Company and Payment Term for Contract and Non-Contracted Invoice Execution
Important: Contracts and non-contracted invoices cannot be executed for that company until an accounting company is assigned if this setting is enabled.
Summary
Now you can easily create and manage accounting companies, link them to Ingenious companies, and ensure Project Managers select the correct company when executing contracts and non-contracted invoices.