Clear and accurate supplier payment terms are essential for keeping your business running smoothly. They define when and how much you need to pay your suppliers, helping you manage cash flow, avoid missed payments, and maintain strong relationships with your vendors.
Whether you're paying upfront, on a net days schedule, or in installments, having these terms recorded ensures consistency across your team and gives you better visibility over upcoming costs.
Configuring Payment Terms in Genie Genie allows you to set up payment terms in three ways:
Upfront Term - Payment is required in full before the order is processed.
Net Days Term - Payment is due after a specified number of days from the PO issue date (e.g., Net 30 means payment is due 30 days after the PO is issued).
Installments Term - Payment is divided into multiple scheduled payments over time.
How Payment Terms Affect Your Purchase Order
Once a payment term is selected, Genie automatically calculates due dates and schedules payments accordingly.
Clear payment terms help maintain supplier relationships and ensure smooth transactions.
Using the appropriate payment terms can improve cash flow management and reduce late payment risks.
When Genie knows your supplier terms, it can automatically create payments based on those details, keeping you informed about how much capital is committed to inventory and what upcoming payments you have for active orders.
How to Add Supplier Payment Terms in Genie
Adding supplier payment terms in Genie is quick and easy. Just follow these steps:
Step 1: From the supplier page, select the supplier you want to add payment terms to.
Step 2:Click the edit button to the right of the supplier name.
Step 3: On the details page, scroll down until you see the "Payment Terms" section. It's the second-to-last card on the page.
Step 4: Click "Add term" on the right side of the card. You'll see three options:
Upfront
Net days
Installments
Step 5: Choose the option that best fits your agreement with that supplier, then enter the relevant details.
Step 6: Once done, click Save to confirm the changes.
Adding payment terms ensures your records stay accurate and your purchasing processes stay efficient. Keep this info up to date for each supplier so you're always prepared for upcoming payments.
Thank you for reading this Help Center article! Our goal is to help you become an inventory pro. If you have any other questions, feel free to reach out to our team, book a meeting, or explore more of our Help Center for more guides on navigating and configuring Genie. And if you want more information on building analytical views check out our guides on the inventory table and creating new views.
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