Definition
Proximo terms set the due date on a specific day of the month following the invoice date. "10th prox" means payment is due on the 10th of next month. Like end of month terms, proximo terms let a client pay all invoices from one month in a single payment run.
Also called: Prox terms, 10th prox
Proximo terms in practice
Proximo terms appear mostly in wholesale and distribution, and in the UK and Australia. They give invoices issued early in a month a longer payment window than invoices issued late in the month, so some sellers bill as early in the month as possible.
Example
Invoices dated March 3 and March 27 with "15th prox" terms are both due April 15.
10th prox due date calculator
Pick an invoice date and a term. You will get the due date and a line you can put on the invoice.
Choose an invoice date to see the due date.
Due on receipt, Net 7, Net 15, and Net 30 fill the due date in Invoice Website. Other terms, such as Net 45, Net 60, 2/10 Net 30, EOM, and prox, go in custom terms.
Frequently Asked Questions
What does "prox" mean on an invoice?
It is short for the Latin "proximo mense", meaning "next month". "20th prox" means the invoice is due on the 20th day of the month after the invoice date.
How is "15th prox" different from Net 30 EOM?
"15th prox" makes the invoice due on the 15th of the following month. Net 30 EOM makes it due 30 days after the invoice month ends, around the end of the following month, so prox terms usually give the client less time.
Related terms
- End of month terms End of month (EOM) terms set the payment deadline relative to the end of the month in which the invoice was issued rather than the invoice date itself.
- Due date The due date is the specific calendar date by which an invoice must be paid.
- Payment terms Payment terms are the conditions on an invoice that state when and how the client must pay.
- Net 30 Net 30 is a payment term meaning the full invoice amount is due 30 calendar days after the invoice date.
This page is for general information only and is not legal, tax, or financial advice. Rules change and vary by location, so consult a qualified lawyer or accountant about your situation.