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Set payment terms for invoicing

Generated invoices will automatically assign a due date based on the payment terms in your account. Be sure to review your settings so the invoice terms are in alignment with your business operations. 

Summary of Essential Steps

Pick your payment terms

If you haven't set payment terms for your business yet, now is the time. It is important to consider what promotes the best relationship with your customers while supporting your cash flow needs and operating costs.  The best option is going to depend on your industry and customer base.

Options in Project 2 Payment are:

  • Due on receipt
  • Net 15 - payment is due 15 days after the invoice date
  • Net 30 - payment is due 30 days after the invoice date
  • Net 45 - payment is due 45 days after the invoice date
  • Net 60 - payment is due 60 days after the invoice date

The default setting is due on receipt. If this does not fit with your business model, you will need to update your settings.

Set default invoice terms

  1. If you are on desktop, go to the left sidebar. If you are in the mobile app or in a web browser on a mobile device, go to the hamburger menu in the upper left corner.
  2. Click on Settings.
  3. Click on Invoice Settings.
  4. Use the dropdown menu to select the payment terms for your business.
  5. Click Save.

Reminder emails are automatically sent on all invoices with Net billing terms. Your customer will receive an email 15 days before the due date, 7 days before the due date, and on the due date.

Turn on after due date reminders

If you use Net billing terms, we highly recommend configuring after due date reminders to save you time chasing down outstanding invoices.

  1. If you are on a desktop, click Settings in the left sidebar. If you are on mobile via browser or app, go to the hamburger menu in the upper left corner and select Settings.
  2. Click on Invoice Settings.
  3. Go to After Due Date Reminders and change the toggle to On.
  4. Use the Frequency dropdown to select how often your customer will receive an email about a past due invoice.
  5. Use the Number of Resends dropdown to define how many more reminder emails your customer should receive after the first after due date reminder email is sent. If you choose Daily emails with 2 resends and the first email went out today, your customer will receive 2 more emails - one tomorrow and one the day after tomorrow. 
  6. Click Save.