Set the default Sales Terms that will automatically generate on new quotes.
If the list does not contain the option you are looking for you can add your own sales terms with the following steps:
1.) Go to the setup gear wheel icon at the top right
2.) Select "Sales Terms" from the "Organization Settings" Box
3.) From here you can see a list of existing sales terms. You also have the ability to Add, Edit, Delete, Import, and Export your sales terms.
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