QuickBooks for Mac 2014 User’s Guide 36
• Payment Methods. Payment methods categorize payments from your customers. When you receive payments
from your customers, you can select a payment method and then sort your deposits by payment method and
create reports based on payment method.
• Ship Via. This list is preconfigured with common shipping methods. You can edit these or add new ones. Then
you can add this information if you customize your sales forms.
Tip: Control-click a name on the list to choose common tasks from a shortcut menu.
To open a list:
Choose Lists > Customer & Vendor Profile and then the name of the list you want to open.
Most of the lists are just labels and can be anything you choose, so I’m not going to go into detail with those.
There are two exceptions: Terms and Payment Methods. These are a little more involved.
Terms for payment
Payment terms say when you expect to receive payment from a customer or when your vendors expect payment
from you. For example, if you expect payment from a customer within 30 days, and you give a discount of 2% if
payment is received in 10 days, the terms are 2% 10 Net 30.
QuickBooks supplies a list of often-used payment terms. Because QuickBooks uses terms for both invoices to your
customers and bills from your vendors, you only need to add a particular set of terms once to the list.
You can edit a customer or vendor and select the payment terms for each. Then QuickBooks automatically enters
terms for you in invoices and bills.
To set up payment terms:
1 Choose Lists > Customer & Vendor Profile > Terms.
2 Add a new term or open an existing term.
3 On the New or Edit Terms window, enter the details of the payment term.
Payment terms details:
• Terms. A word or phrase that will help you recognize the term. You'll see this wherever you select payment
terms.
Examples of payment terms
Let's say your invoices are due in 25 days of receipt, and you give your customers a 1% discount if they pay within
10 days. These would be standard terms because payment is due within a specific number of days from the invoice
date. In the New Terms window, click Standard and enter the following:
1% 10 Net 25
Suppose instead that your invoices are due on the 25th day of the month and you give your customers a 1%
discount if they pay within 10 days. To let QuickBooks know that "25" means the "25th day of the month" and not
"25 days after the invoice date," click Date Driven in the New Terms window and still enter:
1% 10 Net
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