In this FICO configuration activity you are able to maintain payment terms for accounts receivable and accounts payable.
Transaction: OBB8
IMG Path: Financial Accounting (New) -> Accounts Receivable and Accounts Payable -> Business Transactions -> Outgoing Invoices/Credit Memos -> Maintain Terms of Payment
Table: TVZBT, T052, T008, T008T, T052U
On the main screen there are a list of payment terms.
You would see following if you double click or create a new entry.