Payment term refers to the amount of time extended to pay a wholesaler. Sometime discount are applied if payment is completed by a set time frame.
You can record a payment term on a purchase order that has been agreed upon between you and your vendor.
They can also be on your wholesale customers, to flag orders with that exceed the payment terms.
Add to vendor to auto add to PO:
Understanding Credit Terms and Credit Limit
Credit Limit refers to the amount of credit extended.
Credit Term refers to the period of time the credit is extended.
For example, a customer may have a $5,000 credit over 30 days. Even if the customer uses only $2,500 in the 30 days he must still pay the balance before being issued credit again. At this point SellerCloud will not prevent an order from being shipped when exceeding the credit term. However, you can track the orders by opening the customers account and clicking on Orders in the side menu. If the customer went over the limit, a link will appear where you can view those orders and manually prevent their shipping.