The Terms grid contains the following fields described below:
Term Name:
Specifies the name of the payment term to be created. Enter a word or phrase that will help you recognize the terms when you use the Terms list. The number of term types recorded here are visible in the Project and Client screens. E.g., Net 45, Standard, etc. The field size is up to twenty characters.
Grace Days:
Enter the number of days after which interest is charged to client for the delinquent payments. This value determines the grace period after which the interest or late fee will be charged to client on unpaid invoices. The field size is up to three digits.
Edit:
Click to update a listed term. You will be given the option to click Update to save the changes made or click Cancel to undo the changes made to a record.
Delete 
:
Click to delete a record. Web Suite will ask you before deleting a record. Click OK to delete or click Cancel to cancel the deletion.
Save :
Click the save icon to save a new payment term.
Help:
Opens the Web Suite Help in the Web Suite Terms section.
Print:
Opens the Term report that you can preview and print.