Payment Term Types

Payment Term Types are used by they system to determine the due date of tuition balances for an account. You can set a system default payment term type for all accounts or set individual term types for specific accounts. The Payment Term Types lookup allows you to define what term types are available for selection in your database.

To add or edit Payment Term Types

1. On the administration menu, select Lookups, select Accounts, and then click Payment Term Types.
   The Account Contact Types page displays.

2. Do one of the following:

• Click Add new payment term type....

• Click the Edit button next to the payment term type you want to change.
   

3. Select the Active check-box to make the type available , or clear the check-box to make the type inactive.

4. In the Description box, type the descriptive name for the type.
   For example, Net 90.

5. In the # Days box, type the number of days for the payment term.

6. Click the Save and Return button to save the changes and return to the Payment Term Types list.
    

To delete a Payment Term Type

1. On the administration menu, select Lookups, select Accounts, and then click Payment Term Types.

2. Click the Edit button next to the type you want to delete.

3. Click the Delete button.

4. Click Yes to confirm the deletion.

NOTE: You cannot delete a type if it is currently assigned to an account or used as the system default.