For payment terms that use a date or the
end of month (EOM) payment terms, you can specify a grace period for
each customer to whom you’re offering Date/EOM payment terms, or for
each vendor from whom you’re receiving those terms. If, after
beginning to use your accounting system, you need to update or remove
any of the payment terms, you can do so at any time. Existing
transactions using the payment terms won’t be affected by the changes.
