Customers can build their credit profile on Lumi, and apply for payment terms with you when creating a quote request. Lumi does not vet customers for creditworthiness.
Payment terms drive the automatic invoicing system. By default your customers on Lumi have 100% due upfront.
You can see a customer's request for payment terms by going to an opportunity in your Opportunities view and clicking the Respond to opportunity button. This will start a draft quote.
On the quote page under the Payment Terms section, you can see the customer's requested payment terms and their credit application. You may also request additional details by sending the customer a message in the Messages tab of the quote.
The following fields are available to customers on the credit application they create in Lumi. Not all fields are required, so you can ask a customer to fill in or update information if they have not provided it yet.
If you agree to the payment terms the customer has requested, leave them as is. If you'd like to change the payment terms, you can click either the Update payment terms or Revoke payment terms buttons.
The customer will see your payment terms when you've completed the quote and clicked Submit quote.
When you grant terms you will need to input the following information:
Tip: You can also grant payment terms when quoting a new opportunity by clicking Grant new payment terms.
Payment terms can not be changed after an order is placed. Any changes that you make to payment terms after an order is placed will be reflected on the following order.
When you revoke payment terms, payments from the customer will be due up-front.