Christine, The details of net 30 dont have to be too excrutiating, it
merely means t hat the invoice amount is due in 30 days from the date
the invoice was is sued. If you purchased something on the 12th of
the month, that invoice is payable by the 12th of the next month.
Basically it gives you 30 days interest free to pay for purchases. It
is a very effective way to do bu siness, but be careful to pay within
the 30 days because some suppliers d o not send a statement and a
payment could be missed if you dont have a w ay to keep track of when
each invoice is due, which could in turn damage your credit rating
with that supplier. I’m sure you will get lots of acco unting techy
terms on this, but this seemed like the easiest way to say i t.