Invoicing glossary
Payment terms
Payment terms are the conditions under which you expect to be paid — when payment is due and how it should be made.
Payment terms: a clear definition
Payment terms cover the due date (e.g. Net 30, due on receipt), accepted payment methods, any deposit required, and any late fees. Clear terms on every invoice reduce disputes and get you paid faster.
How Invco helps
Invco is an AI invoicing assistant that handles payment terms and the rest of your billing for you. Design a custom invoice template, then let Claude create and send invoices on it in plain English — with subtotals, tax, and totals calculated automatically and every invoice tracked from sent to paid. Start free with one company.
- Related terms: Net 30, Late fee, Deposit
Frequently asked questions
What is payment terms?
Payment terms are the conditions under which you expect to be paid — when payment is due and how it should be made.
What is net 30?
Net 30 is a payment term meaning the full invoice amount is due within 30 days of the invoice date.
Invoice the easy way with Invco
Let an AI assistant create and send your invoices on a template that looks like your brand. Start free with one company — no credit card required.
Get started — it's free