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Payment terms turn “when is this owed?” into a field Tread fills in for you. Pick a term on a settlement and Tread sets the due date, prints it on the settlement PDF, and carries it into QuickBooks exports.

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How it works

A payment term is a name and a number of days (for example, Net 30). It drives the due date on a Settlement: the settlement’s created date plus the term’s days. Due on Receipt is 0 days. Every company gets five standard terms automatically: Due on Receipt, Net 15, Net 30, Net 60, and Net 90. They belong to your company like any other term — rename, edit, or deactivate them as you like. Payment terms work with or without an accounting connection. Companies connected to QuickBooks can also map each term to a QuickBooks term.

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Manage your payment terms

1

Open Payment Terms

Go to Settings → Rates → Payment Terms. Users who can manage rates see this page.The Payment Terms settings page listing the five standard terms, with the Create Payment Term button highlighted
2

Create a term

Click Create Payment Term. Enter a Name and the Due days — a whole number of days after the settlement is created. Use 0 for due on receipt. Two active terms can’t share a name.The Create Payment Term dialog with Name set to Net 45 and Due days set to 45
3

Edit or deactivate a term

Use the ••• menu on a row to Edit or Deactivate it. A deactivated term disappears from the settlement picker, but settlements already using it keep it. You can reactivate it any time.

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Set a company default

Go to Settings → Configuration, find Default payment term, click Edit, pick a term, and click Save. Every new settlement gets this term and its due date automatically. You can still change the term on any individual settlement. The Default payment term setting in Configuration, in edit mode with the list of terms open

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Pick a term on a settlement

1

Open the settlement

Go to Approvals → Receivables (or Payables) and switch to Settlements. Click the arrow on a settlement row to expand it.
2

Choose the term

In the Payment Terms card, click the pencil, then pick a term from the list.The Payment Terms card on an expanded settlement, with the term list open
3

Check the due date and save

Tread fills in Due Date from the settlement’s created date plus the term’s days. Change the date by hand if you need to — the date you type is what’s saved. Click Save.The Payment Terms card with Net 30 selected and the Due Date filled in automatically
Once a settlement is approved, its payment term, due date, and notes are locked. If you void and re-bill a settlement, the new settlement keeps the same term and gets a fresh due date.
The Due Date prints on the settlement PDF whenever it is set. For QuickBooks-connected companies, the PDF also shows a Payment Terms column.

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Map terms to QuickBooks

If your company is connected to QuickBooks, open Settings → Integrations → Rutter, click your connection, and open the Payment terms tab. Pick the QuickBooks term for each Tread term. Only QuickBooks terms due a fixed number of days after the invoice date can be mapped, and each QuickBooks term can back exactly one Tread term.

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Common pitfalls

  • You can’t deactivate a term. It is the company default. Change the default in Settings → Configuration first.
  • The due date looks too early. Tread counts from the settlement’s created date, not from today. Adjust the date by hand if you need a different one.
  • A settlement has no term. Settlements created before you set a default keep working as before. Pick a term on them individually, or leave them as they are.