Payment terms outline how customers should pay during the project. Payment terms are an essential part of the agreement between an integrator and their customers.

Cloud has some default payment terms built in, but you can add custom payment terms to meet the needs of your projects.

To add new payment terms, go to "Settings > Quote > Payment Terms" and click "New payment term." In the modal, specify the payment milestones and the amounts. You can specify amounts in three ways:

1 - Percentages of the total amount paid over multiple milestones

For example, a 30% deposit upon accepting the proposal and the remaining 70% upon completing the project.

2 - Fixed amounts paid at one or more milestones

For example, a $500 deposit upon accepting the proposal and two $1000 payments during the project.

3 - A combination of percentages and fixed amounts paid over multiple milestones

For example, a $500 deposit upon accepting the proposal and two 50% payments during the project.

The following is a screenshot of payment terms that use a combination of both percentages and a fixed amount.

If most of your projects follow a similar payment schedule, you can set payment terms as the default. You can do this for both quotes and change orders and you can set one payment terms as the default for both quotes and change orders or set different ones for each.