How to Set and Assign Payment Terms for Retailers

In B2B (Business to Business) transactions, payment terms define the agreed-upon time frame within which a buyer must settle the payment for goods or services provided by the seller. These terms are crucial as they govern cash flow, establish clear expectations, and help manage financial relationships between businesses. Payment terms typically specify the number of days the buyer has to pay, and can range from immediate payment (prepayment) to extended terms such as 30, 60, or even 90 days, depending on the business agreement. In the context of the Turis platform, Payment Terms help you manage how much time your retailers have before they need to settle their invoices.

Payment Terms (Days)

To access Companies, start by clicking on ⚙️ Settings in the menu on the left-hand side, followed by clicking on Companies.

Your window should now look like this.

Defining Payment Terms

In this section, you can set up and manage the Payment Terms that will apply to your retailers. Payment Terms define the number of days your customers have to pay for their orders after receiving them. This allows you to establish flexible credit periods that suit your business needs.

Common Payment Terms include:

• 0 (Prepayment)
• 7 days
• 14 days
• 30 days
• 60 days

Turis offers the flexibility to define your own custom Payment Terms, so you can choose any number of days that fits your business model.

To add a new Payment Term, click the “+” (plus) button, then enter the desired number of days in the new field. You can create as many Payment Terms as needed for your business.

Once you're done, click “Save” to apply the changes.

After defining your Payment Terms, you can assign them to your retailers, which will be explained in the next section.

Assigning Payment Terms to a Retailer

• Go to 👤 Users in the menu on the left-hand side and click on Retailers.

• Select the retailer you want to assign a Payment Term to by clicking on it.

• Choose from the drop-down which payment terms applies to this retailer.

• Click “Save” to apply the changes.

🔔 Note: The Payment Terms will be visible to the customer when they place an order, as well as in the Orders section of the platform.