Term Payment Accounting System

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The Term Payment Accounting System app is software for your Divinity Shopping Cart that allows you to offer term payment options to select customers. This app allows you to define the types of term payment your business supports (e.g. Net 5 Days).

As a business owner, you may have buyers that require a more flexible payment structure due to any number of reasons. You can easily support those special customers, while at the same time, provide standard payment options to your other customers.

Typical customer types for the Term Payment Accounting System are:

• Bulk Buyers
• Wholesalers
• Corporate Buyers

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Term Payment Accounting Management 101 expand

1. You are able to define an unlimited number of payment terms with the app.
2. These payment terms are then supported as additional Payment Types (e.g. Visa, Master Card, Net 30 Days) in your Divinity Toolkit (back-office Account Manager).
3. Create a new Payment Group within your Account Manager with the Payment Types you want to provide to select customers.
4. Assign Payment Group to customer profile in Customer Manager.
5. When your customer purchases on your Divinity powered site, he/she will have the option of paying by the Payment Terms you assigned.

Partial Features List

Payment Terms Assignment expand

The Term Payment Accounting System app allows you to assign net payment terms to specific customers in your database. This system will automatically handle billing, notifications, and applications of late payment financing charges.

Flexible Payment Scheduling expand

The Term Payment Accounting System app allows you to define any term payment schedule. You can define any amount of net payment days, such as Net 30, Net 45, Net 60, etc.

Credit Limits expand

The Term Payment Accounting System app enables you to define credit limits to each customer.
Example, a group might have Net 30 days terms with up to $5,000 balance allowed.

Late Fees expand

The Term Payment Accounting System app allows you to assign late penalty fees to your Payment Term definitions. This is an optional fee.

NOTE:
Divinity App features and your Divinity shopping cart software package can be re-configured and expanded upon with customizations. We can meet the specific implementation for your business model demands.