Skip to content
English
Go to website
  • There are no suggestions because the search field is empty.

Setting up payment terms

Learn how to set up payment terms in Paragon and sync them with Minox Online for accurate due date calculations.

Payment terms define the agreement between you and your customers or vendors regarding when a payment is due. These terms must be printed on documents like purchase orders, order confirmations, and invoices to ensure clear communication and accurate financial reporting.

Payment terms in Minox

Before using terms in Paragon, ensure they exist in Minox Online to maintain the financial synchronization.

  • In Minox, navigate to Maintenance > General > Payment Terms.

  • The fields in Minox correspond to those in Paragon, so you can follow the same logic for both systems.

Payment terms in Paragon

Navigate to Settings > Finance > Payment Terms.

  1. Click Edit and then Create to add a new term.

  2. Fill in the following fields:

    • Payment Condition: The description that will appear on your documents (e.g., "Net 30 days"). This must be unique.

    • Payment Condition No.: The numeric ID. Important: This ID must match the corresponding ID in Minox.

    • Number of Days: The duration used to calculate the due date.

    • Start Term: Choose Immediate (invoice date + days) or End of Month (last day of the month + days).

    • Mandate: Specify the type of direct debit if applicable (e.g., Continuous or One-time authorization).

    • Discount Type: Choose between Payment Discount (reduction for early payment) or Credit Restriction (surcharge removed if paid early).

    • Discount Term & %: Define the window of days and the percentage applicable for the early payment discount.

Tip: Use the number of days as the ID (e.g., ID 14 for 14 days) for easier recognition.

Assigning terms to customers and vendors

Once created, you must link the terms to your business partners.

  1. Open a Customer or Vendor record.

  2. Navigate to the Financial tab.

  3. Select the appropriate term in the Payment Condition field. This description will now automatically populate on all future transactions for this partner.

Tips for international business

If you operate in multiple languages, you can use a numbering system to keep your localized terms organized:

  • 8 = binnen 8 dagen (NL)

  • 108 = within 8 days (EN)

  • 208 = innerhalb von 8 Tagen (DE)

  • 308 = dans les 8 jours (FR)

This ensures that even though the description is localized for the customer, the core logic remains easy to manage for your internal administration.