Odoo 10 Implementation Cookbook

Payment Terms

The payment term is a time period that is used to define and calculate payment instalments and their respective dates, that is, 50 percent in advance and the balance in 30 days means that the customer has to pay 50 percent on confirmation of invoice and the remaining 50 percent within 30 days from the date of invoice.

The payment terms can be created from Accounting | Configuration | Management | Payment Terms. You will see the default payment terms available: 15 Days, 30 Net Days, and Immediate Payment. Let's create a new payment term, 50% Immediate, Balance after 30 Days; click on the CREATE button:

Enter 50% Immediate, Balance ...