In my country/industry it is not uncommon to have the following payment terms:
a) 100% payment of the net (i.e., pre-VAT) total amount up front, to confirm the order, followed by
b) payment of the VAT amount 30 days after we issue the sales invoice.
I have been trying to create this using the Payment Terms template, but haven’t figure out how to do so by using the provided options.
I have resorted to the following workaround:
- Change the ERPNext settings to the maximum float accuracy possible, i.e. 9 digits, to prevent rounding errors.
- Take the VAT rate, add it to 1.00, then invert this and remember this as value A.
- Make a new payment terms template that contains a) an invoice portion A of the grand total and b) an invoice portion B of the grand total, whereby B=1-A.
This works, though it is a bit of a hack.
Is there some way to do this with built-in functionality that I am missing?