Payment Terms allow you to automate late fees for overdue Invoices. This can encourage your customers to pay on time and help you keep track of any overdue invoices. 

Syncro's Payment Terms are flexible and you can customize them as desired. For example, you can have Syncro:

• Set due dates for invoices.
• Add late fees as line items when customers miss a payment due date.
• Create maximum and minimum amounts for late fees.
• Automate late fees to trigger each month an invoice remains unpaid.
• Send you an alert whenever a late fee is added to an invoice (via the Notification Center).

View Payment Terms

To manage Payment Terms, follow navigate to Admin > Invoices - Payment Terms:

Syncro displays the Invoice Terms & Late Fees page:

Tip: The Invoice Settings page has a quick link to Invoice Terms at the bottom, which will also bring you here.

Create or Edit Payment Terms

To create new Payment Terms, click New Payment Terms. 

To edit existing Payment Terms, click the “Edit” link in the appropriate row of the table.

Syncro displays the New (or Edit) Term page:

1. Enter a Term Name, which will appear in the Invoice Terms & Late Fees table, as well as in other areas of Syncro (e.g., for selection from a dropdown menu).
2. Select either the "Fixed Number of Days" or the “Date Driven" radio button.
   1. For “Fixed Number of Days,” specify the number of days that the invoice must be paid after work is completed.
   2. For “Date Driven,” specify a numeric day of the month when an invoice should be paid. Since it's possible that an invoice might be created close to that day, you can optionally enter the number of days that would cause payments to be deferred to the following month. 
3. Enter the number of days in which to consider the payment late (i.e., to assess late charges/fees).
4. Enter the Flat Charge and/or Percent Charge (per term) that Syncro will assess when a payment is late. (See step 5b for more information.)
5. Optionally, click the “Advanced” link to choose how often the fee will be charged to the customer while their invoice remains unpaid. Syncro displays additional fields:
   
   1. Specify the Frequency of the late charges in a number of Months, Weeks, or Days.
   2. Click a radio button to select the (Late) Fee Calculation: “Default” uses both the Flat Charge and Percentage Charge you specified in step 4. Alternatively, you can use the minimum OR maximum of the Flat or Percentage Fee.
6. Click Save. Syncro adds or updates your Payment Term.

Delete or Reorder Payment Terms

To delete or reorder payment terms, follow these steps:

1. Navigate to Admin > Invoices - Payment Terms to display the Invoice Terms & Late Fees page.
2. To delete the Payment Term, click the red X in the appropriate row, then click OK to confirm. (This removes the deleted terms from any Customers and/or Invoices that were using it.)
3. To reorder the Payment Terms, click the triple line icon () and drag the row to the desired location. (The first in the list is the default for newly created invoices.)

Set Payment Terms 

Once you have Payment Terms defined, you can modify them for specific invoices, or assign them to specific customers.

For Invoices

To set payment terms for an invoice, follow these steps:

1. Navigate to Invoices, then select the specific invoice to display its Details Page.
2. In the Invoice Details section, you'll see the “Payment Terms” field:
3. Click it and select the appropriate Payment Term from the dropdown that displays:
   

Tip: For invoices with Payment Terms, hovering over the “i” next to the "Payment Terms" field displays the date and time of the next late fee.

For Customers

To set payment terms for a Customer, follow these steps:

1. Navigate to Customers, then select the specific customer to display their Details Page.
2. Click Edit.
3. Scroll to the bottom of the page and locate the “Default Invoice Terms” dropdown menu:
   
4. Select your desired Invoice (Payment) Term.
5. Click Save Changes (at the top). Syncro will use these Payment Terms for all invoices associated with this Customer.

Set Up Late Fee Alerts

Notifications about late fees are not done automatically in Syncro. You can, however, set up a notification whenever a late fee is assessed against an overdue invoice.

You'll use the "Invoice - Late fee was added/increased" notification event. For instructions, see Customize & Assign Notifications.

IMPORTANT: Syncro does not automatically email customers when assessing a late fee. You must email them separately. Select "Email" from the Actions button menu for the invoice:

In the Custom Message pop-up, the Invoice PDF is automatically selected. You can enter a message:

Then click Send Email.