How Due Date is Calculated for Standard Accounts Payables Invoices? (Part 2 - Payment Terms)

Many times when implementation is over key users or users in charge with reporting are starting to raise more in depth questions about setup and logic behind each value option available for different fields. One I have come across recently is about How due date is calculated for standard account payables invoices?

The answer is quite simple at high level: payment term on top of terms date (start date when Payables calculates the due and discount dates for invoice scheduled payments). But this answer raise new questions like:

1. Which are available terms date options?
2. How terms date is defaulted at invoice level?
3. How much flexibility payment term have in regards of configuration?

This article will answer to third question. First two questions are addressed by a previous post.

Question

How payment terms are defaulted at invoice level?

Answer

Supplier Site > Supplier > Payables System Setup (if populated). Anyway user may change it.

Steps

Step 1 - Payment term setup – examples

Step 1.1 - Payment term setup – calendar example

Step 2 - Payment term in action

Step 2.1 - Payment term calendar based - in action

Live Demo

This video shows how to apply all the steps. Enjoy!

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