Third of four videos that shows how to install and use our Midtfactoring app
Introduction
This guide covers how to adjust your payment terms in TRAEDE to meet the requirements of Midt Factoring. When integrating with Midt Factoring, it is essential that your payment terms are aligned with the naming conventions set in your e-conomic account.
This is a necessary step to ensure invoices are correctly processed through the Midt Factoring system.
Step 1: Access your payment terms settings
Go to Settings → Sales settings → Payment terms.
You will now see a list of all existing payment terms in your TRAEDE account.
Step 2: Follow Midt Factoring's naming rules
Midt Factoring has a strict rule:
Payment term names must not exceed 10 characters.
Example: Instead of using a long name like "Payment in 30 days," rename it to something like
30Net.
Step 3: Match names with e-conomic
If you’re adding Midt Factoring after already using TRAEDE:
Coordinate with Midt Factoring or your e-conomic setup team to confirm the correct naming conventions.
Ensure your payment terms in TRAEDE match the names used in e-conomic.
Edit a payment term by clicking Edit.
Rename it to match the agreed format (max 10 characters).
Click Submit to save your changes.
⚠️ All payment terms used on customer accounts or orders must be updated accordingly.
Updating your payment terms is a small but critical step in ensuring a smooth factoring setup. Make sure this is done before you start sending invoices through the Midt Factoring integration.