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How to a customer "charge"

I'm not an accountant.  But, I'd like a "sanity check" for understanding correct procedure.
If a business wants to grant a customer terms (deliver products to the customer NOW, and expect them to pay LATER), are the following steps correct?
1. edit customer record; add terms (number of days) and credit limit
2. create an invoice as usual and post it
3. reconcile when payment is received

Or, should the invoice NOT be posted.  Rather, put into some other status?


Brian Wolf
Phone: 410.367.2958
Email: ..hidden..
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