Finance terms are the payment rules Rundoo uses to decide how a customer pays — today at the counter, or later on a statement or per-invoice balance. Every customer is assigned one, and the term's shape determines whether the customer is a retail walk-in or a charge-account contractor.
In the Admin mode, open Customer in the left sidebar — the Finance terms section sits just below Pricing tiers.
A finance term is two things bundled together: a reference date (when the clock starts) and a net due days number (how many days after the reference date the balance is due). Rundoo ships with 14 terms in the demo tenant — Cash, Net 30 Statement, Net 1 Statement, Net 1 Invoice, Net 7 Invoice, 5/18 Net 30 EOM, 1/10 Net 30 EOM, Net 31 Invoice, Discounted for LW, Early Payment, CLB terms, Net 60 Invoice, 2% 30, Net 60 — and you can add more.
Reference date is the knob that matters most — it controls whether the customer is retail, a statement-based charge account, or an on-account invoice customer:
Net 7 Invoice means "pay each invoice within 7 days of the sale."Net 30 Statement means "pay the month's total 30 days after the statement goes out." This is what turns a customer into a charge account.5/18 Net 30 EOM means "5% off if paid by the 18th; otherwise the net is due 30 days from end of month."One term is marked DEFAULT (typically Net 30 Statement in the demo). New customers don't inherit it silently — the Finance term field on a customer's Settings is required at creation time — but it's a useful anchor for the most common customer shape in your store.
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Finance term is what makes a customer a charge account — there's no separate toggle. If an on-account tender doesn't show up at POS for a customer you thought had a tab, check this field first. See Customers for the retail-vs-charge-account framing.
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The split between Statement and Invoice reference dates is the biggest decision a term encodes. It changes how and when the customer sees a bill, and which AR workflow their sales flow into.
| Attribute | Statement terms (Net 30 Statement, Net 1 Statement, …) |
Invoice terms (Net 1 Invoice, Net 7 Invoice, Net 60 Invoice, …) |
|---|---|---|
| How the customer is billed | Monthly rollup — all of a month's sales aggregate into one statement. | Per transaction — each sale is its own invoice with its own due date. |
| When the due-date clock starts | On statement date (end of each month's cycle). | On sale date (the moment the transaction rings up). |
| Is this a "charge account"? | Yes — shows up on the monthly Statements run. | Yes in the sense that they buy on account, but no statement is generated — they pay per invoice. |
| Typical customer | Contractor with a running monthly tab — gets one statement at month-end. | Contractor who wants each job tracked as its own bill, or one paid on delivery per transaction. |
| On-account tender at POS? | Yes. | Yes. |
| Receives statements? | Yes — included in the monthly Statements run. | No — the invoice itself is the bill. |
There's also a third shape — EOM (end of month) — used by terms like 5/18 Net 30 EOM and 1/10 Net 30 EOM. These combine an early-payment discount with a month-end due date. 5/18 Net 30 EOM reads as "5% discount if paid by the 18th of the month following the sale; otherwise net 30 days from end of month."
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Cash is in the list too and is always Invoice day, 0 net days. Customers on Cash pay at the counter every time; on-account tenders never unlock for them. It's the retail default.
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From the Finance terms section, click + Add finance term in the top-right of the table. The Add finance term modal opens.
