Select the gear icon in the upper right hand corner
Select Billing
Select Customer Billing Profiles
Click on the name of the Billing Profile to open
1. Click on the settings button in the upper right hand corner
2. Click on Billing
3. Click on Customer Billing Profiles
4. Select the profile you wish to edit
5. The name of the profile is now editable
6. as well as the Payment Terms
7. Make sure to save before closing the page
How to set the default billing profile: