Payment terms (2024)

Payment terms let you set the time period that a company has to pay for an order. You can set payment terms for any company location that you create. After payment terms are set for a location, any B2B customer for that location can enter payment information for an order. You can also use payment terms when you create a draft order for a B2B customer.

Payment term types

Review the following table to learn more about different types of payment terms that you can set up for company locations:

Orders and draft orders with B2B customers or from the B2B checkout must be manually captured when they don't have a valid authorization and due on fulfillment payment terms.

Deposits for your payment terms

You can set up a percentage-based deposit requirement for your payment terms. Your customers need to pay the deposit amount when placing an order at checkout. You can set up a deposit for all locations in a company or for a specific company location. Deposits apply only for automatically submitted orders that aren't draft orders.

The deposit amount is displayed to your customers at checkout, thank you page, and new customer account pages.

Set up payment terms for a company location

You can set up payment terms for a specific company location.

Steps:

1. From your Shopify admin, go to Customers > Companies.
2. Click a company that you want to set up payment terms for.
3. In the Locations section, click a company location that you want to set up payment terms for.
4. In the Payment terms section, click the pencil icon.
5. From the drop-down menu, select a payment term type.
6. Optional: Set up a deposit for your payment terms:
   1. Select Require deposit on orders created at checkout.
   2. Enter a percentage amount deposit requirement, such as 20%.
7. Click Save.

Set up payment terms for a company

You can set up payment terms for all locations in a company.

Steps:

1. From your Shopify admin, go to Customers > Companies.
2. Click a company that you want to set up payment terms for.
3. In the Payment terms section, click the pencil icon.
4. From the drop-down menu, select a payment term type.
5. Optional: Set up a deposit for your payment terms:
   1. Select Require deposit on orders created at checkout.
   2. Enter a percentage amount deposit requirement, such as 20%.
6. Click Save.

Set up payment terms for companies in bulk

You can set up payment terms for multiple companies at the same time from the Companies index page.

Steps:

1. From your Shopify admin, go to Customers > Companies.
2. Use the checkboxes to select the companies that you want to set up payment terms for.
3. Click Edit payment terms.
4. From the drop-down menu, select a payment term type.
5. Optional: Set up a deposit for your payment terms:
   1. Select Require deposit on orders created at checkout.
   2. Enter a percentage amount deposit requirement, such as 20%.
6. Click Save.