# Payment Terms

On this screen you will configure your payment terms, which will assist you in reporting. Payment terms are assigned to customers and vendors; however, when posting documents this setting can be changed to reflect the payment method of the specific transaction.

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**Next:** [Chart of Accounts](https://docs.p4.software/english-1/quick-guide/chart-of-accounts) · **See also:** [Payment Terms Reference](https://github.com/glenntosco/DocsP4BEnglish/blob/main/payment-terms.md)