Net 30 end of the month (EOM) means that the payment is due 30 days after the end of the month in which you sent the invoice. For example, if you and your client agree to net 30 EOM and you invoice them on May 11th, that payment will be due on June 30th—in other words, 30 days after May 31st.

What is a EOM statement?

EOM refers to the time payment is due. In this case, the invoice is due within 30 days after receiving it, but 30 days doesnt always fall on the end of a month. When the credit terms list EOM, usually the debtor has until the end of the month in which it is due to pay the bill.

What does EOM 30 mean?

end of the month Net 30 end of the month (EOM) means that the payment is due 30 days after the end of the month in which you sent the invoice.

What are standard payment terms?

Common forms are net 10, net 15, net 30, net 60, and net 90 (also written as net 10 days, etc.). Standard payment terms of 30 days, for example, could be designated as net 30 or net 30 days, indicating payment is due on the invoice amount 30 days after delivery of goods or services.

What is the point of payment terms?

Payment terms provide clear details about the expected payment on a sale. Often, payment terms are included on an invoice and specify how much time the buyer has to make payment on the purchase.

What are good payment terms?

Common Invoice Payment TermsPIA - Payment in advance.Net 7 - Payment seven days after invoice date.Net 10 - Payment ten days after invoice date.Net 30 - Payment 30 days after invoice date.Net 60 - Payment 60 days after invoice date.Net 90 - Payment 90 days after invoice date.EOM - End of month.More items

What should I write in payment terms?

Best Practices for Writing Invoice Terms and ConditionsUse of simple, polite, and straightforward language.Mentioning the complete details of the firm and the client.Complete details of the product or service, including taxes or discounts.The reference number or invoice number.Mentioning the payment mode.