I am having some difficulty with our Payment Terms in a Sales Invoice. Our progress billing works like this:
25% deposit when placing order
50% progress payments (typically 5 - 10% payments over the course of the manufacturing process at specified checkpoints)
25% on completion prior to shipping
This is easy and we have a template set up just for this. However, a new problem is arising as we structure or terms a little different. The total price that these specific Payment Terms should be tied to is the overall price for the product, not including Installation & Delivery. We charge for Installation and Delivery separately. This Delivery & Installation fee should not be a part of the Payment Terms as this is not included in the price of the product as it is its own separate fee.
So, if I put Delivery & Installation as a separate line item it increases the grand total and the Payment Terms are now changing to reflect the additional amount of the Delivery and Installation.
What I need is the 25%/10%/25% Payment Terms to ONLY hit the cost of the product, not the grand total including the Delivery & Installation. Then I have a separate line item for the Delivery & Installation with a separate payment term specifically for the Delivery & Installation.
Is there a way to tie Payment Terms to one or more SPECIFIC line items in one invoice or do I just need to create a whole new separate invoice just for Delivery & Installation?
Sorry it this was confusing and thanks in advance!